KBC Group NV Purchases 211,850 Shares of Amcor plc (NYSE:AMCR)

KBC Group NV boosted its holdings in shares of Amcor plc (NYSE:AMCR) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,152,034 shares of the company’s stock after acquiring an additional 211,850 shares during the period. KBC Group NV owned 0.22% of Amcor worth $29,660,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Blue Trust Inc. lifted its holdings in shares of Amcor by 18.4% during the fourth quarter. Blue Trust Inc. now owns 12,254 shares of the company’s stock valued at $115,000 after purchasing an additional 1,901 shares during the last quarter. Gradient Investments LLC bought a new position in Amcor during the 4th quarter valued at approximately $471,000. Diversify Wealth Management LLC raised its stake in Amcor by 101.5% during the fourth quarter. Diversify Wealth Management LLC now owns 318,849 shares of the company’s stock valued at $3,000,000 after buying an additional 160,579 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Amcor by 41.0% in the fourth quarter. HB Wealth Management LLC now owns 68,466 shares of the company’s stock worth $644,000 after acquiring an additional 19,915 shares in the last quarter. Finally, Financial & Tax Architects LLC grew its stake in shares of Amcor by 12.8% in the fourth quarter. Financial & Tax Architects LLC now owns 56,579 shares of the company’s stock worth $532,000 after acquiring an additional 6,434 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 0.8 %

Shares of AMCR stock opened at $9.82 on Wednesday. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The firm has a fifty day moving average price of $9.84 and a 200-day moving average price of $10.46. The company has a market cap of $14.19 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 1.86 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the business posted $0.16 earnings per share. The business’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, equities analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.1275 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 5.20%. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is currently 96.23%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. 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 research note on Wednesday, December 11th. Wells Fargo & Company upped 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. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and raised their price target for the company from $11.00 to $12.00 in a research report on Monday, January 6th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.