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

FourThought Financial Partners LLC acquired a new stake in shares of Amcor plc (NYSE:AMCR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 12,857 shares of the company’s stock, valued at approximately $121,000.

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

Amcor Stock Down 2.3 %

NYSE AMCR opened at $10.09 on Thursday. The stock has a 50 day moving average price of $9.76 and a 200-day moving average price of $10.41. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The company has a market capitalization of $14.58 billion, a P/E ratio of 18.34, a P/E/G ratio of 1.96 and a beta of 0.84.

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

Amcor Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have commented on AMCR. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and raised their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Wednesday, December 11th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average 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.