Amcor (AMCR) Declares $0.12 Dividend

Amcor said on February 7, 2023 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.49 annualized). Shareholders of record as of February 28, 2023 will receive the payment on March 21, 2023. Previously, the company paid $0.12 per share.

At the current share price of $11.22 / share, the stock's dividend yield is 4.37%. Looking back five years and taking a sample every week, the average dividend yield has been 4.28%, the lowest has been 3.56%, and the highest has been 7.73%. The standard deviation of yields is 0.51 (n=172).

The current dividend yield is 0.18 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.85. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.07%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 7.22% Upside

As of February 10, 2023, the average one-year price target for Amcor is $12.03. The forecasts range from a low of $10.86 to a high of $13.65. The average price target represents an increase of 7.22% from its latest reported closing price of $11.22.

The projected annual revenue for Amcor is $15,207MM, an increase of 2.50%. The projected annual EPS is $0.80, an increase of 44.34%.

What is the Fund Sentiment?

There are 1133 funds or institutions reporting positions in Amcor. This is an increase of 8 owner(s) or 0.71% in the last quarter. Average portfolio weight of all funds dedicated to AMCR is 0.18%, an increase of 5.80%. Total shares owned by institutions increased in the last three months by 2.51% to 782,390K shares. The put/call ratio of AMCR is 0.45, indicating a bullish outlook.

What are large shareholders doing?

VFINX - Vanguard 500 Index Fund Investor Shares holds 34,066K shares representing 2.35% ownership of the company. In it's prior filing, the firm reported owning 33,255K shares, representing an increase of 2.38%. The firm decreased its portfolio allocation in AMCR by 8.56% over the last quarter.

Geode Capital Management holds 29,973K shares representing 2.07% ownership of the company. In it's prior filing, the firm reported owning 29,192K shares, representing an increase of 2.61%. The firm decreased its portfolio allocation in AMCR by 8.16% over the last quarter.

Charles Schwab Investment Management holds 27,658K shares representing 1.91% ownership of the company. In it's prior filing, the firm reported owning 25,321K shares, representing an increase of 8.45%. The firm decreased its portfolio allocation in AMCR by 2.94% over the last quarter.

Invesco holds 24,756K shares representing 1.71% ownership of the company. In it's prior filing, the firm reported owning 26,886K shares, representing a decrease of 8.61%. The firm decreased its portfolio allocation in AMCR by 15.57% over the last quarter.

SDY - SPDR Dividend ETF holds 23,850K shares representing 1.65% ownership of the company. In it's prior filing, the firm reported owning 32,116K shares, representing a decrease of 34.66%. The firm decreased its portfolio allocation in AMCR by 34.56% over the last quarter.

Amcor Background Information
(This description is provided by the company.)

Amcor is a global leader in developing and producing responsible packaging for food, beverage, pharmaceutical, medical, home- and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve value chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly light-weighted, recyclable and reusable, and made using a rising amount of recycled content. Around 50,000 Amcor people generate US$13 billion in sales from operations that span about 250 locations in 40-plus countries.

This story originally appeared on Fintel.