Foresight Capital Management Advisors Inc. Invests $1.81 Million in Amcor plc (NYSE:AMCR)

Foresight Capital Management Advisors Inc. bought a new position in Amcor plc (NYSE:AMCR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 160,044 shares of the company’s stock, valued at approximately $1,813,000.

Several other institutional investors have also made changes to their positions in AMCR. Riverview Trust Co acquired a new stake in shares of Amcor during the first quarter worth approximately $28,000. Quent Capital LLC lifted its stake in Amcor by 51.8% in the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after acquiring an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Amcor by 132.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after acquiring an additional 2,519 shares during the last quarter. UMB Bank n.a. lifted its stake in Amcor by 38.7% in the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after acquiring an additional 1,299 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in Amcor in the second quarter valued at approximately $47,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research note on Friday, August 16th. Citigroup lifted their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price objective on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Stifel Nicolaus assumed coverage on shares of Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price objective for the company. Finally, Robert W. Baird boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.73.

Amcor Stock Performance

AMCR stock traded down $0.09 on Monday, reaching $11.11. 4,732,938 shares of the company were exchanged, compared to its average volume of 9,045,992. Amcor plc has a 12 month low of $8.45 and a 12 month high of $11.48. The stock’s fifty day moving average price is $10.95 and its 200 day moving average price is $10.16. The firm has a market capitalization of $16.06 billion, a PE ratio of 24.67, a PEG ratio of 2.73 and a beta of 0.85. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $1.30 billion. Amcor had a net margin of 5.35% and a return on equity of 25.45%. Amcor’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 earnings per share. On average, research analysts anticipate that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 6th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.50%. The ex-dividend date was Friday, September 6th. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

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.