Morningstar Investment Management LLC Boosts Stock Holdings in Amcor plc (NYSE:AMCR)

Morningstar Investment Management LLC raised its stake in Amcor plc (NYSE:AMCR) by 18.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,018 shares of the company’s stock after purchasing an additional 7,303 shares during the quarter. Morningstar Investment Management LLC’s holdings in Amcor were worth $433,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Lake Street Advisors Group LLC boosted its holdings in Amcor by 8.4% in the third quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock valued at $138,000 after acquiring an additional 946 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Amcor by 9.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock worth $132,000 after purchasing an additional 1,023 shares during the period. Forum Financial Management LP lifted its stake in shares of Amcor by 7.7% in the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock valued at $167,000 after purchasing an additional 1,058 shares in the last quarter. Prime Capital Investment Advisors LLC grew its holdings in shares of Amcor by 6.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock worth $215,000 after purchasing an additional 1,085 shares during the period. Finally, CWA Asset Management Group LLC increased its position in Amcor by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock worth $304,000 after purchasing an additional 1,213 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Performance

NYSE:AMCR opened at $10.20 on Thursday. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The stock has a market cap of $14.74 billion, a P/E ratio of 18.54, a PEG ratio of 1.93 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The firm has a 50-day moving average of $9.71 and a two-hundred day moving average of $10.42.

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

Amcor Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.00%. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Analyst Upgrades and Downgrades

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