20,448 Shares in Amcor plc (NYSE:AMCR) Purchased by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC acquired a new position in shares of Amcor plc (NYSE:AMCR) in the 3rd quarter, Holdings Channel reports. The fund acquired 20,448 shares of the company’s stock, valued at approximately $232,000.

Several other large investors have also made changes to their positions in the business. Larson Financial Group LLC raised its holdings in Amcor by 3,410.3% in the 3rd 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 in the last quarter. Rise Advisors LLC acquired a new position in Amcor in the 3rd quarter valued at approximately $35,000. ORG Wealth Partners LLC acquired a new position in Amcor in the 3rd quarter valued at approximately $35,000. True Wealth Design LLC raised its holdings in Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after acquiring an additional 3,225 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Amcor by 38.7% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AMCR shares. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a report on Wednesday. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Citigroup upped their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Wells Fargo & Company upped their price objective on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Robert W. Baird upped their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amcor presently has a consensus rating of “Moderate Buy” and an average target price of $11.20.

Amcor Trading Down 1.0 %

AMCR stock opened at $9.90 on Friday. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The firm has a market cap of $14.30 billion, a P/E ratio of 18.67, a P/E/G ratio of 1.80 and a beta of 0.82. The business’s 50 day moving average is $10.60 and its 200-day moving average is $10.52. 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 released its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. Amcor’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 EPS. Equities analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were given a dividend of $0.1275 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a yield of 5.15%. Amcor’s dividend payout ratio is 96.23%.

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.