Amcor plc (NYSE:AMCR) Shares Purchased by True Wealth Design LLC

True Wealth Design LLC lifted its position in Amcor plc (NYSE:AMCR) by 3,794.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,310 shares of the company’s stock after purchasing an additional 3,225 shares during the quarter. True Wealth Design LLC’s holdings in Amcor were worth $38,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of AMCR. M&G Plc raised its position in shares of Amcor by 2,741.7% during the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after buying an additional 45,504,608 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 worth $74,931,000 after acquiring an additional 4,851,222 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Amcor by 39,411.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock valued at $31,855,000 after purchasing an additional 2,804,484 shares during the period. M&G PLC lifted its stake in shares of Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after purchasing an additional 2,775,794 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Amcor by 356.1% during the 2nd quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock worth $28,659,000 after purchasing an additional 2,287,826 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMCR. Citigroup boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. lifted their target price on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Robert W. Baird upped their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Finally, Wells Fargo & Company lifted their price objective on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.94.

Amcor Stock Performance

Shares of AMCR stock opened at $10.64 on Monday. The firm has a 50 day moving average of $10.80 and a two-hundred day moving average of $10.51. The stock has a market capitalization of $15.38 billion, a PE ratio of 20.08, a P/E/G ratio of 1.92 and a beta of 0.85. 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 plc has a 52 week low of $8.78 and a 52 week high of $11.48.

Amcor (NYSE:AMCR) last released its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the business posted $0.16 earnings per share. Amcor’s revenue was down 2.6% compared to the same quarter last year. On average, research analysts predict that Amcor plc will post 0.74 EPS for the current fiscal 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 issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 4.79%. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s payout ratio is 96.23%.

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.