Foresight Capital Management Advisors Inc. Has $1.83 Million Stake in Amcor plc (NYSE:AMCR)

Foresight Capital Management Advisors Inc. boosted its stake in Amcor plc (NYSE:AMCR) by 25.7% in the first quarter, HoldingsChannel.com reports. The firm owned 188,385 shares of the company’s stock after buying an additional 38,489 shares during the period. Foresight Capital Management Advisors Inc.’s holdings in Amcor were worth $1,827,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock valued at $555,064,000 after purchasing an additional 1,249,868 shares during the period. Van ECK Associates Corp acquired a new stake in Amcor in the fourth quarter valued at $2,605,000. Empowered Funds LLC increased its holdings in Amcor by 25.9% in the fourth quarter. Empowered Funds LLC now owns 167,952 shares of the company’s stock valued at $1,580,000 after purchasing an additional 34,573 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Amcor by 11,326.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock valued at $69,000 after purchasing an additional 7,249 shares during the period. Finally, Norges Bank acquired a new stake in Amcor in the fourth quarter valued at $6,223,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

Shares of AMCR opened at $9.25 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The stock has a 50-day moving average of $9.21 and a 200-day moving average of $9.64. The company has a market cap of $13.36 billion, a PE ratio of 16.81, a P/E/G ratio of 1.96 and a beta of 0.73. Amcor plc has a one year low of $8.37 and a one year high of $11.48.

Amcor (NYSE:AMCR) last issued its earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.13 EPS. On average, equities research analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were paid a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 annualized dividend and a dividend yield of 5.52%. Amcor’s dividend payout ratio is presently 91.07%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Truist Financial decreased their price objective on Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Raymond James initiated coverage on Amcor in a report on Tuesday, April 22nd. They set a “market perform” rating for the company. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.31.

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.