North Star Asset Management Inc. Purchases 58,890 Shares of Amcor plc (NYSE:AMCR)

North Star Asset Management Inc. lifted its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 53.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,801 shares of the company's stock after buying an additional 58,890 shares during the period. North Star Asset Management Inc.'s holdings in Amcor were worth $1,588,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Amcor by 2.2% in the fourth 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 last quarter. Barclays PLC grew its stake in shares of Amcor by 31.8% during the third quarter. Barclays PLC now owns 4,544,118 shares of the company's stock valued at $51,484,000 after buying an additional 1,096,664 shares during the last quarter. Van ECK Associates Corp purchased a new position in shares of Amcor in the fourth quarter worth about $2,605,000. Empowered Funds LLC lifted its stake in shares of Amcor by 25.9% in the 4th quarter. Empowered Funds LLC now owns 167,952 shares of the company's stock valued at $1,580,000 after acquiring an additional 34,573 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Amcor by 11,326.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock valued at $69,000 after acquiring an additional 7,249 shares during the last quarter. Institutional investors own 45.14% of the company's stock.

Amcor Trading Down 0.2%

Shares of Amcor stock traded down $0.02 during midday trading on Friday, reaching $9.06. 9,772,293 shares of the company's stock traded hands, compared to its average volume of 19,009,664. The stock has a 50 day moving average of $9.29 and a 200-day moving average of $9.70. Amcor plc has a 12 month low of $8.37 and a 12 month high of $11.48. The company has a market cap of $13.09 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

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, meeting analysts' consensus estimates of $0.18. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the previous year, the firm earned $0.13 EPS. The company's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd will be issued a $0.1275 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.63%. Amcor's dividend payout ratio (DPR) is presently 91.07%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMCR. Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Raymond James began coverage on shares of Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Finally, Truist Financial lowered their price target on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.31.

About Amcor

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.