Amcor PLC (AMCR) To Go Ex-Dividend on September 4th

Amcor PLC (NYSE:AMCR) announced a quarterly dividend on Wednesday, August 12th. Shareholders of record on Friday, September 4th will be paid a dividend of 0.65 per share on Thursday, September 24th. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Friday, September 4th.

Amcor has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Amcor has a dividend payout ratio of 317.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Amcor to earn $4.32 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 60.2%.

Amcor Trading Down 0.2%

Shares of AMCR stock opened at $45.78 on Wednesday. Amcor has a 12-month low of $36.25 and a 12-month high of $50.94. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 1.17. The stock’s 50-day moving average price is $45.18 and its 200-day moving average price is $42.65. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, August 13th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. The firm had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.05 billion. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 EPS. Equities research analysts predict that Amcor will post 1.84 EPS for the current fiscal year.

Institutional Trading of Amcor

A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Amcor by 1.7% in the fourth quarter. State Street Corp now owns 141,509,581 shares of the company’s stock worth $1,180,190,000 after acquiring an additional 2,432,340 shares during the period. M&G PLC increased its stake in shares of Amcor by 6.1% in the 4th quarter. M&G PLC now owns 114,989,595 shares of the company’s stock valued at $919,917,000 after purchasing an additional 6,655,611 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Amcor by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock worth $701,356,000 after purchasing an additional 2,036,667 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Amcor by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock valued at $533,487,000 after buying an additional 262,418 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its position in shares of Amcor by 6.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 59,866,243 shares of the company’s stock valued at $499,284,000 after buying an additional 3,694,656 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Company Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.