Amcor plc (NYSE:AMCR) Position Boosted by Blue Trust Inc.

Blue Trust Inc. raised its holdings in shares of Amcor plc (NYSE:AMCR) by 18.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,254 shares of the company’s stock after acquiring an additional 1,901 shares during the period. Blue Trust Inc.’s holdings in Amcor were worth $115,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in shares of Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares during the period. Rise Advisors LLC acquired a new stake in shares of Amcor in the third quarter valued at $35,000. ORG Wealth Partners LLC acquired a new position in Amcor during the third quarter worth about $35,000. True Wealth Design LLC grew its holdings in Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares during the period. Finally, Signaturefd LLC raised its position in Amcor by 296.3% in the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after acquiring an additional 3,242 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMCR shares. Wells Fargo & Company lifted their price objective on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research report on Monday. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a report on Wednesday, December 11th. Finally, Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Price Performance

NYSE AMCR opened at $10.02 on Friday. The company has a 50 day simple moving average of $9.76 and a 200-day simple moving average of $10.44. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48. The firm has a market capitalization of $14.48 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the business posted $0.09 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be given a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.09%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is currently 96.23%.

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.