Fifth Third Wealth Advisors LLC Grows Position in Amcor plc (NYSE:AMCR)

Fifth Third Wealth Advisors LLC increased its holdings in Amcor plc (NYSE:AMCR) by 11.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,892 shares of the company’s stock after acquiring an additional 1,409 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Amcor were worth $131,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AMCR. Oak Thistle LLC purchased a new position in Amcor in the fourth quarter valued at approximately $147,000. Wedmont Private Capital purchased a new position in shares of Amcor during the 4th quarter valued at $131,000. Czech National Bank boosted its position in shares of Amcor by 6.4% during the 4th quarter. Czech National Bank now owns 313,379 shares of the company’s stock valued at $2,949,000 after acquiring an additional 18,948 shares during the last quarter. Graypoint LLC purchased a new stake in Amcor in the fourth quarter valued at approximately $97,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Amcor by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company’s stock worth $4,161,000 after purchasing an additional 1,761 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Performance

AMCR stock opened at $9.71 on Friday. The stock’s 50 day simple moving average is $9.89 and its 200 day simple moving average is $10.44. Amcor plc has a 12-month low of $8.78 and a 12-month high of $11.48. The stock has a market capitalization of $14.03 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 1.69 and a beta of 0.84. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.16 earnings per share. As a group, research analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.1275 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 5.26%. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is currently 96.23%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research note on Wednesday, December 11th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and boosted their price objective for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and upped their target price for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor 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.