Amcor plc (NYSE:AMCR) Stock Holdings Lifted by Diversify Wealth Management LLC

Diversify Wealth Management LLC increased its position in shares of Amcor plc (NYSE:AMCR) by 101.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 318,849 shares of the company’s stock after acquiring an additional 160,579 shares during the quarter. Diversify Wealth Management LLC’s holdings in Amcor were worth $3,000,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in shares of Amcor in the second quarter valued at $75,000. Dimensional Fund Advisors LP boosted its position in Amcor by 11.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock worth $143,989,000 after acquiring an additional 1,527,492 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Amcor by 20.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 54,259 shares of the company’s stock worth $539,000 after acquiring an additional 9,328 shares during the period. Amalgamated Bank increased its holdings in shares of Amcor by 20.7% in the 2nd quarter. Amalgamated Bank now owns 449,709 shares of the company’s stock valued at $4,398,000 after purchasing an additional 77,150 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Amcor by 18.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 70,586 shares of the company’s stock worth $690,000 after purchasing an additional 11,008 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

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

Amcor Stock Up 0.1 %

AMCR stock opened at $9.71 on Monday. 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. The company has a market cap of $14.03 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 1.69 and a beta of 0.84. The business’s 50-day simple moving average is $9.89 and its 200 day simple moving average is $10.44.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. Amcor’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 EPS. On average, research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

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

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.