Schaper Benz & Wise Investment Counsel Inc. WI Acquires 168,210 Shares of Amcor plc (NYSE:AMCR)

Schaper Benz & Wise Investment Counsel Inc. WI lifted its stake in Amcor plc (NYSE:AMCR - Free Report) by 30.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 712,750 shares of the company's stock after acquiring an additional 168,210 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI's holdings in Amcor were worth $6,707,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Barclays PLC boosted its holdings in Amcor by 31.8% in the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company's stock valued at $51,484,000 after purchasing an additional 1,096,664 shares during the period. Franklin Resources Inc. raised its position in shares of Amcor by 39.3% in the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company's stock worth $8,162,000 after buying an additional 203,166 shares in the last quarter. Natixis Advisors LLC boosted its stake in Amcor by 24.5% during the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company's stock valued at $7,190,000 after buying an additional 124,945 shares during the period. Cerity Partners LLC grew its position in Amcor by 78.7% during the third quarter. Cerity Partners LLC now owns 217,498 shares of the company's stock worth $2,464,000 after buying an additional 95,805 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Amcor during the third quarter worth about $5,919,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AMCR shares. Truist Financial raised Amcor from a "hold" rating to a "buy" rating and raised their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th. Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and raised their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 27th. UBS Group upgraded shares of Amcor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Finally, Bank of America upgraded shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price for the company in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $11.46.

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Insider Buying and Selling at Amcor

In other news, Director Achal Agarwal bought 10,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now directly owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.60% of the company's stock.

Amcor Trading Down 0.6 %

Shares of Amcor stock traded down $0.07 during trading on Wednesday, reaching $9.94. The company's stock had a trading volume of 21,600,672 shares, compared to its average volume of 21,468,906. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48. The firm's 50-day moving average is $9.88 and its two-hundred day moving average is $10.37. The company has a market cap of $14.36 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 1.96 and a beta of 0.80.

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

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders 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 yield of 5.13%. Amcor's dividend payout ratio (DPR) 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.