Lifeworks Advisors LLC Buys 82,854 Shares of Amcor plc (NYSE:AMCR)

Lifeworks Advisors LLC lifted its position in shares of Amcor plc (NYSE:AMCR) by 29.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 364,999 shares of the company’s stock after acquiring an additional 82,854 shares during the quarter. Lifeworks Advisors LLC’s holdings in Amcor were worth $4,135,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rise Advisors LLC acquired a new position in Amcor in the 3rd quarter valued at approximately $35,000. ORG Wealth Partners LLC bought a new stake in Amcor in the third quarter worth approximately $35,000. Quent Capital LLC lifted its position in shares of Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after acquiring an additional 1,241 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after purchasing an additional 2,519 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Amcor by 38.7% in the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after acquiring an additional 1,299 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE AMCR traded down $0.09 during trading hours on Thursday, reaching $10.02. 335,639 shares of the stock traded hands, compared to its average volume of 8,758,138. The company’s 50-day simple moving average is $10.96 and its two-hundred day simple moving average is $10.48. The company has a market capitalization of $14.48 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 1.83 and a beta of 0.85. Amcor plc has a 52-week low of $8.78 and a 52-week 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.

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

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.09%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio is presently 96.23%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AMCR shares. Citigroup boosted their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Finally, Wells Fargo & Company increased their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amcor presently has a consensus rating of “Hold” and a consensus price target of $10.94.

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.