Wealth Enhancement Advisory Services LLC Acquires 640,375 Shares of Amcor plc (NYSE:AMCR)

Wealth Enhancement Advisory Services LLC raised its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 145.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,080,766 shares of the company's stock after purchasing an additional 640,375 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.07% of Amcor worth $10,170,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AMCR. Vanguard Group Inc. boosted its stake in shares of Amcor by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock valued at $555,064,000 after purchasing an additional 1,249,868 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Amcor by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock worth $433,358,000 after buying an additional 2,862,471 shares during the period. Geode Capital Management LLC boosted its position in Amcor by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company's stock valued at $345,952,000 after acquiring an additional 539,756 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Amcor by 16.0% during 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 during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Amcor by 25.1% during 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 during the period. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on AMCR. Raymond James started coverage on Amcor in a research note on Tuesday, April 22nd. They issued a "market perform" rating for the company. Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Finally, Truist Financial dropped 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. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Amcor presently has an average rating of "Moderate Buy" and a consensus price target of $11.31.

Amcor Stock Down 0.8%

Amcor stock traded down $0.07 during mid-day trading on Monday, hitting $9.04. The company had a trading volume of 32,864,515 shares, compared to its average volume of 19,129,770. Amcor plc has a 12 month low of $8.37 and a 12 month high of $11.48. The company has a market capitalization of $13.06 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The stock's 50 day moving average price is $9.29 and its two-hundred day moving average price is $9.69. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80.

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. The company had revenue of $3.33 billion for the quarter, compared to analysts' expectations of $3.51 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. Amcor's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 EPS. As a group, sell-side analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd will be given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.64%. The ex-dividend date of this dividend is Thursday, May 22nd. Amcor's dividend payout ratio (DPR) is currently 91.07%.

Amcor Company 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.