Vest Financial LLC Acquires 488,281 Shares of Amcor plc (NYSE:AMCR)

Vest Financial LLC raised its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 9.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,615,629 shares of the company's stock after acquiring an additional 488,281 shares during the period. Vest Financial LLC owned approximately 0.39% of Amcor worth $54,472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AMCR. Vanguard Group Inc. boosted its stake in Amcor by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock worth $555,064,000 after purchasing an additional 1,249,868 shares during the period. Van ECK Associates Corp acquired a new position in Amcor in the 4th quarter worth $2,605,000. Empowered Funds LLC boosted its stake in Amcor by 25.9% in the 4th quarter. Empowered Funds LLC now owns 167,952 shares of the company's stock worth $1,580,000 after purchasing an additional 34,573 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in Amcor by 11,326.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock worth $69,000 after purchasing an additional 7,249 shares during the period. Finally, Norges Bank acquired a new position in Amcor in the 4th quarter worth $6,223,000. Institutional investors own 45.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Truist Financial reduced their price objective on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Raymond James assumed coverage on shares of Amcor in a research note on Tuesday, April 22nd. They set a "market perform" rating for the company. Four 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. According to data from MarketBeat, Amcor has an average rating of "Moderate Buy" and an average price target of $11.31.

Amcor Stock Performance

AMCR stock traded up $0.08 during mid-day trading on Friday, hitting $9.12. 15,595,052 shares of the company were exchanged, compared to its average volume of 19,301,515. The business has a 50 day simple moving average of $9.22 and a 200-day simple moving average of $9.66. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $13.18 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. Amcor plc has a 1-year low of $8.37 and a 1-year high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. On average, equities analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 annualized dividend and a dividend yield of 5.59%. Amcor's dividend payout ratio is presently 91.07%.

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.