Amcor plc (NYSE:AMCR) Position Boosted by Empowered Funds LLC

Empowered Funds LLC boosted its holdings in Amcor plc (NYSE:AMCR - Free Report) by 25.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 167,952 shares of the company's stock after purchasing an additional 34,573 shares during the quarter. Empowered Funds LLC's holdings in Amcor were worth $1,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC purchased a new position in Amcor during the fourth quarter worth approximately $7,789,000. Apollon Wealth Management LLC acquired a new stake in shares of Amcor during the 4th quarter worth $125,000. Vest Financial LLC raised its position in shares of Amcor by 7.3% in the 4th quarter. Vest Financial LLC now owns 5,127,348 shares of the company's stock worth $48,248,000 after buying an additional 348,026 shares during the period. Global X Japan Co. Ltd. boosted its holdings in Amcor by 15.6% in the fourth quarter. Global X Japan Co. Ltd. now owns 48,365 shares of the company's stock valued at $455,000 after acquiring an additional 6,510 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Amcor by 8.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 279,704 shares of the company's stock valued at $2,632,000 after acquiring an additional 21,839 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMCR has been the topic of a number of research reports. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Bank of America upgraded shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price target on the stock in a report on Wednesday, December 11th. Macquarie upgraded shares of Amcor from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 27th. Truist Financial raised shares of Amcor from a "hold" rating to a "buy" rating and increased their price objective for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $11.46.

Amcor Stock Up 0.2 %

AMCR stock traded up $0.03 during trading on Wednesday, reaching $10.20. The stock had a trading volume of 15,323,241 shares, compared to its average volume of 18,418,816. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The firm has a fifty day moving average price of $9.71 and a 200 day moving average price of $10.42. The company has a market capitalization of $14.74 billion, a P/E ratio of 18.54, a PEG ratio of 1.93 and a beta of 0.84. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.24 billion for the quarter, compared to analysts' expectations of $3.33 billion. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The company's revenue was down .3% compared to the same quarter last year. On average, equities analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor's payout ratio is currently 92.73%.

Amcor Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.