Amcor plc (NYSE:AMCR) Shares Sold by Foresight Capital Management Advisors Inc.

Foresight Capital Management Advisors Inc. reduced its position in shares of Amcor plc (NYSE:AMCR) by 6.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 149,896 shares of the company’s stock after selling 10,148 shares during the quarter. Foresight Capital Management Advisors Inc.’s holdings in Amcor were worth $1,411,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AMCR. Acadian Asset Management LLC purchased a new position in shares of Amcor during the 2nd quarter worth about $75,000. Choreo LLC purchased a new position in Amcor in the second quarter valued at approximately $103,000. Thoroughbred Financial Services LLC purchased a new position in Amcor in the second quarter valued at approximately $183,000. WINTON GROUP Ltd purchased a new position in Amcor in the second quarter valued at approximately $392,000. Finally, Dimensional Fund Advisors LP raised its holdings in Amcor by 11.6% in the second quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock valued at $143,989,000 after buying an additional 1,527,492 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Performance

AMCR stock opened at $9.61 on Thursday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.69 and a beta of 0.84. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The stock’s fifty day moving average is $9.92 and its two-hundred day moving average is $10.45.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the business earned $0.16 earnings per share. The company’s revenue was down 2.6% on a year-over-year basis. On average, research analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were paid a dividend of $0.1275 per share. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date was Thursday, November 21st. Amcor’s payout ratio is currently 96.23%.

Wall Street Analysts Forecast Growth

AMCR has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Finally, Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

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.