Diversify Wealth Management LLC Has $3 Million Stake in Amcor plc (NYSE:AMCR)

Diversify Wealth Management LLC boosted its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 101.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 318,849 shares of the company's stock after acquiring an additional 160,579 shares during the period. Diversify Wealth Management LLC's holdings in Amcor were worth $3,000,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AMCR. Lake Street Advisors Group LLC raised its position in shares of Amcor by 8.4% in the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company's stock valued at $138,000 after acquiring an additional 946 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Amcor by 9.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company's stock valued at $132,000 after purchasing an additional 1,023 shares in the last quarter. Forum Financial Management LP raised its holdings in Amcor by 7.7% in the third quarter. Forum Financial Management LP now owns 14,761 shares of the company's stock worth $167,000 after purchasing an additional 1,058 shares during the period. Prime Capital Investment Advisors LLC boosted its position in shares of Amcor by 6.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company's stock worth $215,000 after purchasing an additional 1,085 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its position in shares of Amcor by 3.9% in the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company's stock valued at $304,000 after buying an additional 1,213 shares in the last quarter. Institutional investors own 45.14% of the company's stock.

Amcor Stock Performance

NYSE AMCR traded up $0.01 on Monday, hitting $9.71. 15,007,528 shares of the stock were exchanged, compared to its average volume of 12,705,694. The business's fifty day moving average is $9.89 and its 200 day moving average is $10.45. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The company has a market capitalization of $14.03 billion, a PE ratio of 18.31, a P/E/G ratio of 1.69 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting analysts' consensus estimates of $0.16. The business had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. Amcor's quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.16 earnings per share. Research analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.1275 per share. This is an increase from Amcor's previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 5.26%. Amcor's dividend payout ratio (DPR) is currently 96.23%.

Analyst Ratings Changes

Several research firms have weighed in on AMCR. UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Macquarie upgraded Amcor from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 27th. Wells Fargo & Company increased their target price on Amcor from $10.50 to $10.80 and gave the stock an "equal weight" rating in a research note on Tuesday, October 15th. Bank of America upgraded shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price target for the company in a report on Wednesday, December 11th. Finally, Citigroup upgraded shares of 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. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.46.

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.