Wedmont Private Capital Takes Position in Amcor plc (NYSE:AMCR)

Wedmont Private Capital bought a new stake in Amcor plc (NYSE:AMCR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 13,951 shares of the company’s stock, valued at approximately $131,000.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its stake in Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after purchasing an additional 2,319 shares during the period. Rise Advisors LLC bought a new position in shares of Amcor in the third quarter worth approximately $35,000. ORG Wealth Partners LLC purchased a new position in shares of Amcor in the third quarter worth $35,000. True Wealth Design LLC increased its stake in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after buying an additional 3,225 shares during the period. Finally, Signaturefd LLC raised its holdings in Amcor by 296.3% during the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after buying an additional 3,242 shares during the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMCR. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and upped their price target for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Wells Fargo & Company lifted their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.46.

Amcor Trading Up 0.1 %

NYSE AMCR opened at $9.71 on Friday. The stock’s fifty day moving average price is $9.90 and its 200-day moving average price is $10.44. 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 $14.03 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.69 and a beta of 0.84. Amcor plc has a 12 month low of $8.78 and a 12 month high of $11.48.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the company earned $0.16 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, equities analysts forecast that Amcor plc will post 0.74 EPS 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 represents a $0.51 annualized dividend and a yield of 5.26%. This is an increase 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 currently 96.23%.

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.