Amcor plc (NYSE:AMCR) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its stake in shares of Amcor plc (NYSE:AMCR) by 25.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 167,952 shares of the company’s stock after acquiring an additional 34,573 shares during the quarter. Empowered Funds LLC’s holdings in Amcor were worth $1,580,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AMCR. Larson Financial Group LLC grew its position in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after buying an additional 2,319 shares during the last quarter. True Wealth Design LLC grew its position in Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares in the last quarter. Signaturefd LLC grew its position in Amcor by 296.3% during the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after purchasing an additional 3,242 shares in the last quarter. Covestor Ltd grew its position in Amcor by 441.0% during the 3rd quarter. Covestor Ltd now owns 7,963 shares of the company’s stock worth $90,000 after purchasing an additional 6,491 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Amcor during the 3rd quarter worth approximately $97,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AMCR. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Stock Down 0.4 %

AMCR stock opened at $10.06 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The company has a fifty day simple moving average of $9.71 and a 200 day simple moving average of $10.43. The firm has a market cap of $14.53 billion, a PE ratio of 18.28, a PEG ratio of 1.92 and a beta of 0.84.

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

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s payout ratio is presently 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.