Foresight Capital Management Advisors Inc. Buys 38,489 Shares of Amcor plc (NYSE:AMCR)

Foresight Capital Management Advisors Inc. lifted its stake in Amcor plc (NYSE:AMCR) by 25.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 188,385 shares of the company’s stock after buying an additional 38,489 shares during the period. Foresight Capital Management Advisors Inc.’s holdings in Amcor were worth $1,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock valued at $555,064,000 after buying an additional 1,249,868 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Amcor by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock valued at $433,358,000 after buying an additional 2,862,471 shares during the period. Geode Capital Management LLC boosted its stake in shares of Amcor by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company’s stock valued at $345,952,000 after buying an additional 539,756 shares during the period. Invesco Ltd. boosted its stake in shares of Amcor by 16.0% in the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock valued at $286,300,000 after buying an additional 4,199,209 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Amcor by 25.1% in the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock valued at $263,215,000 after buying an additional 5,614,233 shares during the period. 45.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMCR. Truist Financial cut their price target on Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Raymond James assumed coverage on Amcor in a research note on Tuesday, April 22nd. They set a “market perform” rating for the company. Four equities research 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 company. According to MarketBeat.com, Amcor currently has an average rating of “Moderate Buy” and an average price target of $11.31.

Amcor Stock Up 0.7%

NYSE AMCR opened at $9.25 on Wednesday. The business has a fifty day moving average price of $9.21 and a two-hundred day moving average price of $9.64. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The stock has a market capitalization of $13.36 billion, a PE ratio of 16.81, a PEG ratio of 1.96 and a beta of 0.73.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the prior year, the company earned $0.13 EPS. Amcor’s revenue was down 2.3% compared to the same quarter last year. Equities analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date was Thursday, May 22nd. Amcor’s payout ratio is 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.