Amcor said on May 2, 2023 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.49 annualized). Previously, the company paid $0.12 per share.
Shares must be purchased before the ex-div date of May 23, 2023 to qualify for the dividend. Shareholders of record as of May 24, 2023 will receive the payment on June 20, 2023.
At the current share price of $10.01 / share, the stock's dividend yield is 4.90%.
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 0.50 (n=184).
The current dividend yield is 1.23 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.72. 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.
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What is the Fund Sentiment?
There are 1157 funds or institutions reporting positions in Amcor. This is an increase of 20 owner(s) or 1.76% in the last quarter. Average portfolio weight of all funds dedicated to AMCR is 0.19%, an increase of 2.20%. Total shares owned by institutions increased in the last three months by 3.16% to 805,827K shares. The put/call ratio of AMCR is 0.45, indicating a bullish outlook.
Analyst Price Forecast Suggests 20.81% Upside
As of April 25, 2023, the average one-year price target for Amcor is 12.09. The forecasts range from a low of 10.86 to a high of $13.65. The average price target represents an increase of 20.81% from its latest reported closing price of 10.01.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Amcor is 15,207MM, an increase of 1.86%. The projected annual non-GAAP EPS is 0.80.
What are Other Shareholders Doing?
VFINX - Vanguard 500 Index Fund Investor Shares holds 34,426K shares representing 2.40% ownership of the company. In it's prior filing, the firm reported owning 34,066K shares, representing an increase of 1.05%. The firm increased its portfolio allocation in AMCR by 3.34% over the last quarter.
Charles Schwab Investment Management holds 30,692K shares representing 2.14% ownership of the company. In it's prior filing, the firm reported owning 27,658K shares, representing an increase of 9.88%. The firm increased its portfolio allocation in AMCR by 10.83% over the last quarter.
Geode Capital Management holds 30,260K shares representing 2.11% ownership of the company. In it's prior filing, the firm reported owning 29,973K shares, representing an increase of 0.95%. The firm increased its portfolio allocation in AMCR by 3.61% over the last quarter.
SDY - SPDR(R) S&P(R) Dividend ETF holds 28,970K shares representing 2.02% ownership of the company. In it's prior filing, the firm reported owning 23,850K shares, representing an increase of 17.67%. The firm increased its portfolio allocation in AMCR by 15.61% over the last quarter.
Invesco holds 25,764K shares representing 1.79% ownership of the company. In it's prior filing, the firm reported owning 24,756K shares, representing an increase of 3.91%. The firm increased its portfolio allocation in AMCR by 5.12% 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.
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