Hudson Valley Investment Advisors Inc. ADV Acquires Shares of 11,000 Amcor plc (NYSE:AMCR)

Hudson Valley Investment Advisors Inc. ADV acquired a new stake in Amcor plc (NYSE:AMCR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,000 shares of the company’s stock, valued at approximately $104,000.

Several other large investors also recently bought and sold shares of the stock. Legacy Private Trust Co. boosted its stake in Amcor by 827.2% in the fourth quarter. Legacy Private Trust Co. now owns 554,843 shares of the company’s stock valued at $5,221,000 after acquiring an additional 495,000 shares in the last quarter. CWA Asset Management Group LLC boosted its stake in shares of Amcor by 3.9% during the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock worth $304,000 after buying an additional 1,213 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Amcor by 5.7% during the third quarter. Principal Financial Group Inc. now owns 1,969,613 shares of the company’s stock worth $22,316,000 after buying an additional 105,457 shares during the period. Franklin Resources Inc. boosted its stake in shares of Amcor by 39.3% during the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock worth $8,162,000 after buying an additional 203,166 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of Amcor by 292.5% during the third quarter. Tidal Investments LLC now owns 81,439 shares of the company’s stock worth $923,000 after buying an additional 60,691 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Down 1.3 %

Shares of Amcor stock opened at $9.43 on Friday. Amcor plc has a 12-month low of $8.78 and a 12-month high of $11.48. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The stock has a market cap of $13.63 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.80 and a beta of 0.84. The company has a 50-day moving average of $9.95 and a two-hundred day moving average of $10.44.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. 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 $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the company posted $0.16 earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, research analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.41%. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is 96.23%.

Wall Street Analysts Forecast Growth

AMCR has been the subject of several recent research reports. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and increased their target price for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Wells Fargo & Company increased their target price 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. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Finally, 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 report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

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.