19,369 Shares in Amcor plc (NYSE:AMCR) Bought by Kestra Investment Management LLC

Kestra Investment Management LLC bought a new position in shares of Amcor plc (NYSE:AMCR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,369 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its holdings in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares during the last quarter. Rise Advisors LLC bought a new stake in Amcor during the third quarter worth approximately $35,000. ORG Wealth Partners LLC acquired a new position in Amcor during the third quarter valued at approximately $35,000. Quent Capital LLC raised its position in shares of Amcor by 51.8% in the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after purchasing an additional 1,241 shares during the period. Finally, True Wealth Design LLC raised its position in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares during the period. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Performance

Shares of NYSE AMCR opened at $10.55 on Tuesday. The firm has a market capitalization of $15.25 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.92 and a beta of 0.85. 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 business has a fifty day simple moving average of $10.80 and a 200 day simple moving average of $10.51. Amcor plc has a one year low of $8.78 and a one year high of $11.48.

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

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be given a $0.1275 dividend. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 4.83%. Amcor’s payout ratio is presently 96.23%.

Analysts Set New Price Targets

AMCR has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Citigroup lifted their price objective on 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 note on Wednesday, November 27th. JPMorgan Chase & Co. lifted their price target on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Finally, Robert W. Baird increased their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.94.

Amcor 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.