Amcor plc (NYSE:AMCR) Shares Acquired by Argyle Capital Management LLC

Argyle Capital Management LLC grew its holdings in Amcor plc (NYSE:AMCR) by 5.7% during the fourth quarter, HoldingsChannel reports. The fund owned 67,630 shares of the company’s stock after purchasing an additional 3,666 shares during the period. Argyle Capital Management LLC’s holdings in Amcor were worth $636,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Larson Financial Group LLC lifted its position in Amcor by 3,410.3% in the third 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. True Wealth Design LLC increased its position in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Amcor by 441.0% in the 3rd quarter. Covestor Ltd now owns 7,963 shares of the company’s stock valued at $90,000 after purchasing an additional 6,491 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Amcor in the 3rd quarter valued at about $97,000. Finally, Graypoint LLC acquired a new stake in shares of Amcor in the 4th quarter valued at about $97,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Down 0.3 %

NYSE AMCR opened at $10.06 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $14.53 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.96 and a beta of 0.84. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48. The firm has a 50-day moving average price of $9.77 and a 200 day moving average price of $10.41.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the prior year, the business posted $0.09 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is currently 92.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AMCR shares. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research note on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

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.