First Trust Advisors LP Buys 154,429 Shares of Amcor plc (NYSE:AMCR)

First Trust Advisors LP raised its stake in shares of Amcor plc (NYSE:AMCR – Get Rating) by 42.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 515,860 shares of the company’s stock after acquiring an additional 154,429 shares during the quarter. First Trust Advisors LP’s holdings in Amcor were worth $6,144,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Spire Wealth Management raised its holdings in shares of Amcor by 29.5% in the third quarter. Spire Wealth Management now owns 4,007 shares of the company’s stock valued at $43,000 after buying an additional 913 shares during the last quarter. General Partner Inc. bought a new position in shares of Amcor in the fourth quarter valued at about $48,000. IFP Advisors Inc raised its holdings in shares of Amcor by 16.0% in the third quarter. IFP Advisors Inc now owns 6,593 shares of the company’s stock valued at $94,000 after buying an additional 908 shares during the last quarter. Concord Wealth Partners bought a new position in shares of Amcor in the fourth quarter valued at about $104,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of Amcor by 56.1% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 9,102 shares of the company’s stock valued at $108,000 after buying an additional 3,271 shares during the last quarter. 46.79% of the stock is owned by institutional investors.

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Amcor Price Performance

Amcor stock opened at $9.79 on Friday. The firm has a market capitalization of $14.41 billion, a P/E ratio of 14.83, a PEG ratio of 0.33 and a beta of 0.80. Amcor plc has a 1 year low of $9.76 and a 1 year high of $13.60. The business has a 50-day moving average of $10.75 and a 200-day moving average of $11.40. The company has a current ratio of 1.27, a quick ratio of 0.72 and a debt-to-equity ratio of 1.58.

Amcor (NYSE:AMCR – Get Rating) last posted its earnings results on Tuesday, May 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.69 billion. Amcor had a return on equity of 27.94% and a net margin of 6.54%. During the same period in the previous year, the company earned $0.21 EPS. On average, equities analysts anticipate that Amcor plc will post 0.73 EPS for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Wednesday, May 24th will be given a $0.1225 dividend. The ex-dividend date is Tuesday, May 23rd. This represents a $0.49 annualized dividend and a dividend yield of 5.01%. Amcor’s dividend payout ratio is presently 74.24%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMCR. JPMorgan Chase & Co. raised Amcor from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $11.60 to $10.80 in a report on Wednesday, May 3rd. Morgan Stanley cut Amcor from an “equal weight” rating to an “underweight” rating in a report on Wednesday, February 8th. Finally, Jefferies Financial Group raised Amcor from an “underperform” rating to a “hold” rating in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Amcor currently has an average rating of “Hold” and a consensus target price of $10.80.

Amcor Company Profile

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Amcor Plc operates as a holding company, which engages in the consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.

Further Reading

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