Oak Thistle LLC Makes New $147,000 Investment in Amcor plc (NYSE:AMCR)

Oak Thistle LLC acquired a new stake in shares of Amcor plc (NYSE:AMCR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,587 shares of the company’s stock, valued at approximately $147,000.

Several other large investors have also recently modified their holdings of the stock. Lake Street Advisors Group LLC grew its position in Amcor by 8.4% during the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock worth $138,000 after acquiring an additional 946 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Amcor by 9.6% in the third 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 stake 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 worth $167,000 after buying an additional 1,058 shares during the period. Prime Capital Investment Advisors LLC raised its holdings in Amcor by 6.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock valued at $215,000 after buying an additional 1,085 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted 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 valued at $304,000 after buying an additional 1,213 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 0.1 %

NYSE AMCR opened at $9.71 on Friday. The firm has a market capitalization of $14.03 billion, a PE ratio of 18.31, a P/E/G ratio of 1.69 and a beta of 0.84. The stock’s 50 day moving average is $9.90 and its 200 day moving average is $10.44. Amcor plc has a twelve month low of $8.78 and a twelve month high of $11.48. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last released its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The firm 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%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 EPS. Research analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.1275 per share. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.26%. Amcor’s dividend payout ratio (DPR) is currently 96.23%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMCR. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and upped their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 6th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.46.

About Amcor

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.