Foresight Capital Management Advisors Inc. increased its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 25.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,385 shares of the company's stock after acquiring an additional 38,489 shares during the quarter. Foresight Capital Management Advisors Inc.'s holdings in Amcor were worth $1,827,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Amcor by 4.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,622,097 shares of the company's stock valued at $34,084,000 after acquiring an additional 157,557 shares in the last quarter. Apollon Wealth Management LLC bought a new stake in Amcor during the 4th quarter valued at $125,000. Empowered Funds LLC raised its holdings in Amcor by 25.9% during the fourth quarter. Empowered Funds LLC now owns 167,952 shares of the company's stock worth $1,580,000 after buying an additional 34,573 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Amcor by 4.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 81,433 shares of the company's stock valued at $761,000 after buying an additional 3,751 shares in the last quarter. Finally, Van ECK Associates Corp acquired a new position in shares of Amcor during the fourth quarter valued at about $2,605,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on AMCR. Truist Financial lowered their target price on shares of Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Raymond James initiated coverage on Amcor in a report 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $11.31.
View Our Latest Report on Amcor
Amcor Stock Down 1.7%
NYSE:AMCR traded down $0.16 on Friday, hitting $9.09. The stock had a trading volume of 21,495,655 shares, compared to its average volume of 19,576,519. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The stock has a market cap of $13.13 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73. Amcor plc has a 1 year low of $8.37 and a 1 year high of $11.48. The firm's fifty day simple moving average is $9.21 and its two-hundred day simple moving average is $9.62.
Amcor (NYSE:AMCR - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.51 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 earnings per share. Analysts predict that Amcor plc will post 0.74 earnings per share for the current year.
Amcor Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date of this dividend was Thursday, May 22nd. Amcor's payout ratio is 91.07%.
Amcor Company Profile
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Free Report)
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.
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