True Wealth Design LLC Boosts Holdings in Amcor plc (NYSE:AMCR)

True Wealth Design LLC increased its stake in shares of Amcor plc (NYSE:AMCR) by 3,794.1% during the 3rd quarter, Holdings Channel.com reports. The fund 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMCR. Public Sector Pension Investment Board increased its position in shares of Amcor by 13.3% during the third quarter. Public Sector Pension Investment Board now owns 62,922 shares of the company’s stock worth $713,000 after purchasing an additional 7,400 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 buying an additional 4,851,222 shares during the period. Fiduciary Trust Co lifted its stake in Amcor by 0.5% in the third quarter. Fiduciary Trust Co now owns 632,440 shares of the company’s stock valued at $7,166,000 after buying an additional 2,838 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in shares of Amcor by 37.3% in the third quarter. CreativeOne Wealth LLC now owns 119,369 shares of the company’s stock valued at $1,352,000 after acquiring an additional 32,453 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Amcor by 39,411.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock worth $31,855,000 after acquiring an additional 2,804,484 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Amcor Price Performance

Shares of AMCR opened at $10.64 on Monday. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The stock’s 50 day moving average is $10.80 and its two-hundred day moving average is $10.51. Amcor plc has a twelve month low of $8.78 and a twelve month high of $11.48. The firm 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.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 earnings per share. Research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is currently 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.