Meritage Portfolio Management Boosts Holdings in Amcor plc (NYSE:AMCR)

Meritage Portfolio Management grew its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 32.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 460,145 shares of the company's stock after acquiring an additional 114,025 shares during the quarter. Meritage Portfolio Management's holdings in Amcor were worth $4,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Amcor by 21.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,266,821 shares of the company's stock valued at $11,958,000 after acquiring an additional 224,610 shares during the last quarter. McAdam LLC purchased a new position in shares of Amcor in the 4th quarter worth about $185,000. Forsta AP Fonden grew its position in Amcor by 3.1% during the fourth quarter. Forsta AP Fonden now owns 683,600 shares of the company's stock valued at $6,433,000 after buying an additional 20,600 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Amcor by 12.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 550,677 shares of the company's stock worth $5,182,000 after buying an additional 60,049 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in Amcor by 22.9% in the fourth quarter. Pacer Advisors Inc. now owns 208,271 shares of the company's stock worth $1,960,000 after acquiring an additional 38,869 shares during the period. Institutional investors own 45.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup upgraded shares of Amcor from a "neutral" rating to a "buy" rating and raised their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. UBS Group raised Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Wells Fargo & Company upped their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a report on Tuesday, October 15th. Finally, Bank of America raised shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price target on the stock in a research report on Wednesday, December 11th. Three investment 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.46.

Amcor Stock Performance

AMCR remained flat at $10.03 during trading on Friday. The company had a trading volume of 17,235,207 shares, compared to its average volume of 20,073,714. The firm's 50 day moving average is $9.74 and its 200-day moving average is $10.44. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $14.50 billion, a PE ratio of 18.24, a PEG ratio of 1.92 and a beta of 0.84.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company's revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 EPS. Equities research analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be paid a $0.1275 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.08%. Amcor's dividend payout ratio (DPR) is 92.73%.

Amcor Company 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.