Amcor plc (NYSE:AMCR) Shares Acquired by Vest Financial LLC

Vest Financial LLC lifted its stake in Amcor plc (NYSE:AMCR) by 7.3% during the fourth quarter, according to 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 period. Vest Financial LLC’s holdings in Amcor were worth $48,248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMCR. Lake Street Advisors Group LLC grew its position in shares of Amcor by 8.4% during the third quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock worth $138,000 after acquiring an additional 946 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Amcor by 9.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock worth $132,000 after purchasing an additional 1,023 shares during the period. Forum Financial Management LP grew its position in Amcor by 7.7% during the 3rd 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 last quarter. Prime Capital Investment Advisors LLC increased its stake in Amcor by 6.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock valued at $215,000 after purchasing an additional 1,085 shares during the period. Finally, CWA Asset Management Group LLC raised its holdings in shares of Amcor by 3.9% in the fourth 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 during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Price Performance

Shares of NYSE AMCR opened at $10.03 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. Amcor plc has a one year low of $8.78 and a one year high of $11.48. The firm has a market capitalization of $14.50 billion, a P/E ratio of 18.92, a PEG ratio of 1.86 and a beta of 0.84. The company’s fifty day moving average is $9.76 and its two-hundred day moving average is $10.44.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. Analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.08%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is currently 92.73%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMCR. Citigroup raised 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 report on Monday, January 6th. Wells Fargo & Company boosted their target price on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, 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.