Kestra Private Wealth Services LLC Takes Position in Amcor plc (NYSE:AMCR)

Kestra Private Wealth Services LLC acquired a new stake in shares of Amcor plc (NYSE:AMCR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,152 shares of the company’s stock, valued at approximately $108,000.

A number of other hedge funds have also made changes to their positions in AMCR. Toronto Dominion Bank acquired a new stake in Amcor in the 3rd quarter valued at approximately $43,187,000. Invesco Ltd. grew its holdings in Amcor by 14.9% in the 3rd quarter. Invesco Ltd. now owns 20,531,344 shares of the company’s stock valued at $188,067,000 after buying an additional 2,664,715 shares during the last quarter. FMR LLC grew its holdings in Amcor by 315.0% in the 3rd quarter. FMR LLC now owns 1,816,174 shares of the company’s stock valued at $16,636,000 after buying an additional 1,378,594 shares during the last quarter. CBOE Vest Financial LLC grew its holdings in Amcor by 106.3% in the 3rd quarter. CBOE Vest Financial LLC now owns 2,251,643 shares of the company’s stock valued at $20,625,000 after buying an additional 1,160,061 shares during the last quarter. Finally, Vest Financial LLC grew its holdings in Amcor by 38.2% in the 4th quarter. Vest Financial LLC now owns 3,110,645 shares of the company’s stock valued at $29,987,000 after buying an additional 859,002 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.32 on Friday. Amcor plc has a 1-year low of $8.45 and a 1-year high of $10.45. The firm has a market capitalization of $14.91 billion, a PE ratio of 22.92, a PEG ratio of 5.48 and a beta of 0.79. The business’s 50 day moving average is $9.30 and its 200-day moving average is $9.32. The company has a current ratio of 1.29, a quick ratio of 0.75 and a debt-to-equity ratio of 1.76.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.49 billion. Amcor had a return on equity of 24.66% and a net margin of 4.75%. Amcor’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. Sell-side analysts predict that Amcor plc will post 0.69 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 22nd will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, May 21st. This represents a $0.50 annualized dividend and a dividend yield of 4.85%. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted their price objective on Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st.

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.