Kestra Investment Management LLC Buys 4,547 Shares of Amcor plc (NYSE:AMCR)

Kestra Investment Management LLC raised its stake in shares of Amcor plc (NYSE:AMCR) by 23.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,916 shares of the company’s stock after buying an additional 4,547 shares during the quarter. Kestra Investment Management LLC’s holdings in Amcor were worth $225,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. M&G PLC boosted its stake in Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after purchasing an additional 2,775,794 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Amcor by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock worth $489,348,000 after buying an additional 1,960,308 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Amcor by 2.0% in the third quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock worth $410,144,000 after buying an additional 697,320 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Amcor by 275.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock valued at $74,931,000 after buying an additional 4,851,222 shares during the last quarter. Finally, Vest Financial LLC increased its position in shares of Amcor by 7.3% during the fourth quarter. Vest Financial LLC now owns 5,127,348 shares of the company’s stock valued at $48,248,000 after acquiring an additional 348,026 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

Amcor Price Performance

NYSE AMCR opened at $10.20 on Thursday. The company has a 50-day moving average price of $9.71 and a 200-day moving average price of $10.42. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $14.74 billion, a P/E ratio of 18.54, a PEG ratio of 1.93 and a beta of 0.84.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting 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 for the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the firm earned $0.09 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio is presently 92.73%.

Analyst Upgrades and Downgrades

AMCR has been the topic of several analyst reports. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research report on Wednesday, December 11th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and lifted their price target for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

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.