Hi Line Capital Management LLC boosted its position in shares of Amcor PLC (NYSE:AMCR – Free Report) by 6.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 631,578 shares of the company’s stock after buying an additional 36,631 shares during the quarter. Amcor accounts for approximately 1.8% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 26th largest position. Hi Line Capital Management LLC owned 0.14% of Amcor worth $5,267,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Leonteq Securities AG purchased a new position in Amcor during the fourth quarter worth $1,750,000. IFP Advisors Inc boosted its stake in Amcor by 12.7% during the fourth quarter. IFP Advisors Inc now owns 6,518 shares of the company’s stock worth $54,000 after buying an additional 733 shares during the period. Intrust Bank NA boosted its stake in Amcor by 31.6% during the fourth quarter. Intrust Bank NA now owns 32,972 shares of the company’s stock worth $275,000 after buying an additional 7,923 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in Amcor by 10.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 260,412 shares of the company’s stock worth $2,172,000 after buying an additional 24,795 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Amcor by 9.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 502,367 shares of the company’s stock worth $4,190,000 after buying an additional 45,103 shares during the period. 45.14% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Truist Financial reaffirmed a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Morgan Stanley lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective for the company. in a research note on Wednesday, January 28th. JPMorgan Chase & Co. dropped their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Amcor presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.
Amcor Stock Up 3.9%
NYSE:AMCR opened at $38.14 on Thursday. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a market cap of $17.63 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 1.11 and a beta of 0.63. The stock has a fifty day simple moving average of $39.74 and a 200-day simple moving average of $42.36. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30.
Amcor (NYSE:AMCR – Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period last year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 77.4% compared to the same quarter last year. Analysts anticipate that Amcor PLC will post 3.97 EPS for the current year.
Amcor Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.
About Amcor
Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.
Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.
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