Schaper Benz & Wise Investment Counsel Inc. WI Increases Stock Holdings in Amcor plc (NYSE:AMCR)

Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in Amcor plc (NYSE:AMCR) by 30.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 712,750 shares of the company’s stock after purchasing an additional 168,210 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Amcor were worth $6,707,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares during the period. Jones Financial Companies Lllp grew its stake in Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after buying an additional 2,660 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Amcor during the 4th quarter worth about $44,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Amcor in the 4th quarter worth approximately $60,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Price Performance

NYSE:AMCR opened at $10.29 on Friday. The stock’s 50-day simple moving average is $9.85 and its 200 day simple moving average is $10.39. The company has a market cap of $14.87 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.96 and a beta of 0.80. 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 plc has a 52-week low of $8.80 and a 52-week high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the business earned $0.09 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Insider Activity

In related news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the transaction, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AMCR has been the subject of a number of research reports. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

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.