Vest Financial LLC Boosts Position in Amcor plc (NYSE:AMCR)

Vest Financial LLC lifted its position in Amcor plc (NYSE:AMCR) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,127,348 shares of the company’s stock after purchasing an additional 348,026 shares during the quarter. Vest Financial LLC owned about 0.35% of Amcor worth $48,248,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMCR. Creative Planning raised its position in Amcor by 41.5% in the second quarter. Creative Planning now owns 107,489 shares of the company’s stock valued at $1,051,000 after purchasing an additional 31,546 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Amcor by 333.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,693 shares of the company’s stock valued at $85,000 after buying an additional 6,686 shares during the period. Sanctuary Advisors LLC acquired a new position in Amcor in the second quarter valued at about $445,000. Czech National Bank boosted its stake in Amcor by 6.9% during the third quarter. Czech National Bank now owns 294,431 shares of the company’s stock worth $3,336,000 after buying an additional 19,008 shares during the period. Finally, CWM LLC increased its position in shares of Amcor by 118.0% during the third quarter. CWM LLC now owns 118,761 shares of the company’s stock valued at $1,346,000 after acquiring an additional 64,279 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on AMCR. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company boosted their price objective on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.03 on Friday. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The firm’s 50 day moving average price is $9.76 and its 200 day moving average price is $10.44. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The stock has a market cap of $14.50 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS. As a group, equities research analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is 92.73%.

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.