Wealth Enhancement Advisory Services LLC Acquires 1,761 Shares of Amcor plc (NYSE:AMCR)

Wealth Enhancement Advisory Services LLC raised its holdings in Amcor plc (NYSE:AMCR) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 442,152 shares of the company’s stock after buying an additional 1,761 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Amcor were worth $4,161,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AMCR. Barclays PLC boosted its holdings in Amcor by 31.8% in the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after acquiring an additional 1,096,664 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Amcor by 39.3% during the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock valued at $8,162,000 after purchasing an additional 203,166 shares in the last quarter. Natixis Advisors LLC increased its position in shares of 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 raised its stake in Amcor by 78.7% in 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 stake in Amcor in the third quarter worth about $5,919,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Trading Up 1.2 %

Shares of NYSE AMCR opened at $9.52 on Tuesday. The firm’s 50 day moving average price is $9.94 and its 200-day moving average price 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 debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The company has a market cap of $13.76 billion, a PE ratio of 17.96, a P/E/G ratio of 1.80 and a beta of 0.84.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $3.35 billion for 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%. During the same period in the prior year, the firm posted $0.16 EPS. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities research analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were given a $0.1275 dividend. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 5.36%. Amcor’s payout ratio is 96.23%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AMCR shares. Bank of America raised 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. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, 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. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.