Vest Financial LLC Acquires 348,026 Shares of Amcor plc (NYSE:AMCR)

Vest Financial LLC increased its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,127,348 shares of the company's stock after buying an additional 348,026 shares during the quarter. Vest Financial LLC owned about 0.35% of Amcor worth $48,248,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AMCR. Creative Planning grew its stake in Amcor by 41.5% during the 2nd quarter. Creative Planning now owns 107,489 shares of the company's stock worth $1,051,000 after buying an additional 31,546 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Amcor by 333.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,693 shares of the company's stock worth $85,000 after acquiring an additional 6,686 shares during the period. Sanctuary Advisors LLC acquired a new position in Amcor during the 2nd quarter worth $445,000. Czech National Bank boosted its position in Amcor by 6.9% during the 3rd quarter. Czech National Bank now owns 294,431 shares of the company's stock worth $3,336,000 after acquiring an additional 19,008 shares during the period. Finally, CWM LLC boosted its position in Amcor by 118.0% during the 3rd quarter. CWM LLC now owns 118,761 shares of the company's stock worth $1,346,000 after acquiring an additional 64,279 shares during the period. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Truist Financial upgraded Amcor from a "hold" rating to a "buy" rating and boosted their price target for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Macquarie upgraded Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Finally, UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $11.46.

Amcor Price Performance

Shares of Amcor stock traded down $0.05 during trading on Wednesday, hitting $9.98. The stock had a trading volume of 11,839,677 shares, compared to its average volume of 18,966,260. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.74. The firm has a market cap of $14.42 billion, a P/E ratio of 18.15, a PEG ratio of 1.92 and a beta of 0.84. The business has a fifty day moving average of $9.72 and a two-hundred day moving average of $10.44. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.16. The company 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%. Amcor's revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share. On average, sell-side analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be given a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.11%. The ex-dividend date 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.