Amcor PLC $AMCR Shares Acquired by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV grew its holdings in Amcor PLC (NYSE:AMCR) by 10.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 260,412 shares of the company’s stock after buying an additional 24,795 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Amcor were worth $2,172,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AMCR. M&G PLC grew its stake in shares of Amcor by 26.6% in the third quarter. M&G PLC now owns 108,333,984 shares of the company’s stock worth $866,672,000 after acquiring an additional 22,737,979 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Amcor by 103.9% in the third quarter. Federated Hermes Inc. now owns 39,344,317 shares of the company’s stock worth $321,837,000 after acquiring an additional 20,052,979 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Amcor by 398.6% in the second quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after acquiring an additional 12,803,785 shares in the last quarter. Invesco Ltd. grew its stake in shares of Amcor by 29.9% in the third quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after acquiring an additional 10,846,351 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Amcor by 7.2% in the third quarter. State Street Corp now owns 139,077,241 shares of the company’s stock worth $1,137,652,000 after acquiring an additional 9,375,255 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of AMCR stock opened at $38.14 on Thursday. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The firm has a fifty day moving average price of $39.74 and a 200 day moving average price of $42.36. The company has a market cap of $17.63 billion, a P/E ratio of 26.67, a PEG ratio of 1.11 and a beta of 0.63. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The company’s revenue was up 77.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Sell-side analysts predict that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 6.8%. The ex-dividend date is Thursday, May 28th. Amcor’s dividend payout ratio is currently 181.82%.

Analysts Set New Price Targets

AMCR has been the subject of several research reports. Morgan Stanley downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target for the company. in a research note on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price for the company. Robert W. Baird set a $54.00 target price on shares of Amcor in a research note on Wednesday, February 4th. Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.33.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.