Atlanta Consulting Group Advisors LLC Invests $399,000 in Amcor plc (NYSE:AMCR)

Atlanta Consulting Group Advisors LLC acquired a new stake in Amcor plc (NYSE:AMCR) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 35,240 shares of the company’s stock, valued at approximately $399,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Amcor by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after purchasing an additional 1,170,986 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new position in Amcor during the first quarter worth $923,000. O Shaughnessy Asset Management LLC raised its holdings in shares of Amcor by 236.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,648,279 shares of the company’s stock worth $15,675,000 after acquiring an additional 1,157,878 shares during the last quarter. Lake Street Advisors Group LLC purchased a new stake in shares of Amcor in the first quarter valued at $114,000. Finally, CreativeOne Wealth LLC acquired a new stake in shares of Amcor during the first quarter valued at $747,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Price Performance

Amcor stock opened at $10.22 on Monday. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The firm has a 50 day moving average price of $10.92 and a 200 day moving average price of $10.50. The company has a market cap of $14.77 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.84 and a beta of 0.85.

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

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.1275 per share. The ex-dividend date is Thursday, November 21st. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 4.99%. Amcor’s dividend payout ratio is currently 94.34%.

Analyst Ratings Changes

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

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.