Empowered Funds LLC Boosts Stock Position in Amcor plc (NYSE:AMCR)

Empowered Funds LLC grew its holdings in shares of Amcor plc (NYSE:AMCR) by 6.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 133,379 shares of the company’s stock after acquiring an additional 7,507 shares during the period. Empowered Funds LLC’s holdings in Amcor were worth $1,511,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Lake Street Advisors Group LLC boosted its stake 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 period. Whittier Trust Co. of Nevada Inc. grew its stake 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 last quarter. Forum Financial Management LP increased its holdings in shares of Amcor by 7.7% in the third quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock valued at $167,000 after buying an additional 1,058 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in shares of Amcor by 6.1% during the third 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, Quent Capital LLC lifted its stake in Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after buying an additional 1,241 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Trading Up 2.5 %

NYSE:AMCR opened at $10.47 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The company has a market capitalization of $15.13 billion, a P/E ratio of 19.76, a P/E/G ratio of 1.78 and a beta of 0.85. The stock’s 50 day moving average price is $10.86 and its 200 day moving average price is $10.50. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48.

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

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a $0.1275 dividend. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s payout ratio is 94.34%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Citigroup increased their target price on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird increased their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Wells Fargo & Company boosted their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Amcor currently has an average rating of “Hold” and a consensus price target of $10.94.

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.