Amcor PLC $AMCR Shares Purchased by Dupree Financial Group LLC

Key Points

• Dupree Financial Group increased its Amcor stake by 41.5% in the third quarter, purchasing 78,544 additional shares and bringing its total holdings to 267,653 shares valued at approximately $11.2 million.
• Institutional ownership remains significant at 45.14%, with several other investment firms—including Rockefeller Capital Management and Y Intercept Hong Kong—also increasing their positions.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $49.36. Amcor also reported quarterly earnings and revenue above estimates and pays an annualized $2.60 dividend, representing a 6.2% yield.

Dupree Financial Group LLC grew its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 41.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 267,653 shares of the company's stock after buying an additional 78,544 shares during the period. Amcor makes up 2.9% of Dupree Financial Group LLC's holdings, making the stock its 6th biggest position. Dupree Financial Group LLC owned 0.06% of Amcor worth $11,204,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Alps Advisors Inc. grew its stake in shares of Amcor by 2.9% in the fourth quarter. Alps Advisors Inc. now owns 3,048,031 shares of the company's stock valued at $25,421,000 after acquiring an additional 85,083 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Amcor in the 2nd quarter worth about $90,556,000. Rockefeller Capital Management L.P. raised its stake in Amcor by 55.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,307,985 shares of the company's stock worth $10,909,000 after purchasing an additional 467,065 shares in the last quarter. Rubric Capital Management LP bought a new stake in Amcor in the 1st quarter valued at about $50,458,000. Finally, Y Intercept Hong Kong Ltd grew its position in shares of Amcor by 784.8% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 1,021,907 shares of the company's stock worth $8,523,000 after purchasing an additional 906,415 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AMCR shares. Truist Financial set a $51.00 target price on shares of Amcor in a report on Tuesday, August 18th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $47.00 price target (up from $44.00) on shares of Amcor in a research note on Monday, August 17th. Weiss Ratings reissued a "hold (c)" rating on shares of Amcor in a research report on Friday, August 7th. Wells Fargo & Company raised their price objective on Amcor from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Friday, August 14th. Finally, UBS Group assumed coverage on Amcor in a report on Tuesday, August 11th. They issued a "buy" rating and a $56.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $49.36.

Amcor Price Performance

Amcor stock opened at $41.73 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.76 and a current ratio of 1.25. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The stock has a market capitalization of $19.29 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 2.60 and a beta of 0.58. The stock has a fifty day moving average of $44.62 and a 200-day moving average of $42.14.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. Amcor had a return on equity of 15.92% and a net margin of 4.71%. The business had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.05 billion. During the same period last year, the firm posted $0.20 earnings per share. Amcor's revenue was up 25.9% compared to the same quarter last year. On average, sell-side analysts expect that Amcor PLC will post 1.84 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Friday, September 4th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.2%. Amcor's dividend payout ratio is 110.17%.

Amcor Profile

Amcor plc NYSE: AMCR is a global packaging company that develops and produces packaging for food, beverages, pharmaceutical and medical products, personal care items, household goods and other consumer and industrial applications. Its portfolio includes flexible packaging, rigid containers, films, laminates, bags, bottles, closures, cartons and specialty packaging solutions.

The company works with brand owners and manufacturers to design packaging that supports product protection, shelf life, convenience and presentation.

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