Focus Financial Network Inc. Makes New $319,000 Investment in Amcor plc (NYSE:AMCR)

Focus Financial Network Inc. acquired a new stake in shares of Amcor plc (NYSE:AMCR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 32,875 shares of the company's stock, valued at approximately $319,000.

A number of other hedge funds have also recently bought and sold shares of AMCR. Marshall Wace LLP grew its stake in Amcor by 303.9% during the 4th quarter. Marshall Wace LLP now owns 8,699,610 shares of the company's stock valued at $81,863,000 after purchasing an additional 6,545,689 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Amcor by 25.1% in the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock worth $263,215,000 after acquiring an additional 5,614,233 shares in the last quarter. First Trust Advisors LP grew its position in shares of Amcor by 474.7% in the 4th quarter. First Trust Advisors LP now owns 5,402,490 shares of the company's stock worth $50,837,000 after acquiring an additional 4,462,367 shares in the last quarter. Invesco Ltd. grew its position in shares of Amcor by 16.0% in the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock worth $286,300,000 after acquiring an additional 4,199,209 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Amcor in the 4th quarter worth approximately $31,485,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Raymond James assumed coverage on Amcor in a research report on Tuesday, April 22nd. They issued a "market perform" rating for the company. Truist Financial decreased their target price on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.31.

Amcor Stock Performance

AMCR stock traded down $0.16 during trading on Friday, reaching $9.09. 21,495,655 shares of the company's stock were exchanged, compared to its average volume of 19,635,933. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor plc has a 1-year low of $8.37 and a 1-year high of $11.48. The company's fifty day moving average price is $9.22 and its 200-day moving average price is $9.62. The firm has a market cap of $13.13 billion, a PE ratio of 16.52, a P/E/G ratio of 1.96 and a beta of 0.73.

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

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were given a dividend of $0.1275 per share. The ex-dividend date was Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.61%. Amcor's dividend payout ratio (DPR) 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.