FourThought Financial Partners LLC Makes New Investment in Amcor plc (NYSE:AMCR)

FourThought Financial Partners LLC bought a new stake in Amcor plc (NYSE:AMCR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,857 shares of the company’s stock, valued at approximately $121,000.

Several other institutional investors have also recently made changes to their positions in the company. Forum Financial Management LP grew its holdings in Amcor by 7.7% during the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock valued at $167,000 after purchasing an additional 1,058 shares during the last quarter. Prime Capital Investment Advisors LLC boosted 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 valued at $215,000 after buying an additional 1,085 shares during the period. CWA Asset Management Group LLC grew 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 valued at $304,000 after buying an additional 1,213 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of Amcor by 11.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company’s stock worth $131,000 after buying an additional 1,409 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Amcor by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company’s stock worth $4,161,000 after acquiring an additional 1,761 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on AMCR shares. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. 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. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Amcor has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Stock Down 2.3 %

Shares of Amcor stock opened at $10.09 on Thursday. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The stock has a market cap of $14.58 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 1.96 and a beta of 0.84. The firm’s 50-day moving average is $9.76 and its two-hundred day moving average is $10.41.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. As a group, research analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be given a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Amcor 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.