Amcor plc (NYSE:AMCR) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC boosted its position in shares of Amcor plc (NYSE:AMCR) by 6.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,379 shares of the company’s stock after purchasing an additional 7,507 shares during the period. Empowered Funds LLC’s holdings in Amcor were worth $1,511,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AMCR. M&G Plc increased its stake in Amcor by 2,741.7% during the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after purchasing an additional 45,504,608 shares during the period. SteelPeak Wealth LLC acquired a new position in shares of Amcor during the 2nd quarter worth about $781,000. Vanguard Group Inc. increased its holdings in shares of Amcor by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock valued at $539,686,000 after acquiring an additional 1,170,986 shares during the last quarter. Cardinal Capital Management raised its position in shares of Amcor by 832.2% during the 2nd quarter. Cardinal Capital Management now owns 115,616 shares of the company’s stock worth $1,131,000 after acquiring an additional 103,213 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Amcor by 11.6% during the second quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock worth $143,989,000 after purchasing an additional 1,527,492 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMCR has been the topic of a number of research reports. Robert W. Baird raised their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Wells Fargo & Company increased their price target on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Citigroup lifted their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. upped their price target on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Amcor currently has an average rating of “Hold” and an average target price of $10.94.

Amcor Trading Up 2.5 %

Shares of AMCR opened at $10.47 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The firm has a 50 day simple moving average of $10.86 and a 200-day simple moving average of $10.50. The stock has a market cap of $15.13 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 1.78 and a beta of 0.85. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (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 $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business earned $0.16 earnings per share. Amcor’s revenue was down 2.6% compared to the same quarter last year. Equities analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.87%. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s dividend payout ratio is presently 94.34%.

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.