West Family Investments Inc. Buys New Stake in Amcor plc (NYSE:AMCR)

West Family Investments Inc. purchased a new position in Amcor plc (NYSE:AMCR) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,614 shares of the company’s stock, valued at approximately $132,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Amcor by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock valued at $539,686,000 after purchasing an additional 1,170,986 shares in the last quarter. Lake Street Advisors Group LLC bought a new stake in shares of Amcor in the 1st quarter valued at approximately $114,000. CreativeOne Wealth LLC bought a new position in Amcor during the first quarter worth $747,000. Toronto Dominion Bank lifted its stake in Amcor by 0.3% during the first quarter. Toronto Dominion Bank now owns 4,815,594 shares of the company’s stock worth $45,796,000 after purchasing an additional 16,774 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Amcor by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock worth $195,946,000 after purchasing an additional 2,086,698 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Amcor Trading Up 4.5 %

Amcor stock opened at $10.34 on Thursday. 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. The firm has a market capitalization of $14.94 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.84 and a beta of 0.85. The firm has a 50-day moving average price of $10.87 and a two-hundred day moving average price of $10.50.

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

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a $0.1275 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 4.93%. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is presently 94.34%.

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.