KBC Group NV Boosts Holdings in Amcor PLC $AMCR

KBC Group NV raised its position in shares of Amcor PLC (NYSE:AMCR) by 7.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,858,842 shares of the company’s stock after acquiring an additional 202,703 shares during the quarter. KBC Group NV owned approximately 0.20% of Amcor worth $26,273,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. NewSquare Capital LLC lifted its stake in shares of Amcor by 377.9% in the second quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock worth $26,000 after buying an additional 2,222 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in Amcor by 839.8% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock worth $28,000 after purchasing an additional 2,704 shares in the last quarter. Adirondack Trust Co. purchased a new position in Amcor in the 2nd quarter worth approximately $29,000. Brentview Investment Management LLC acquired a new position in shares of Amcor during the 1st quarter worth approximately $31,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Amcor in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AMCR shares. Stifel Nicolaus upgraded Amcor from a “hold” rating to a “buy” rating and set a $10.20 target price for the company in a report on Friday, October 10th. Royal Bank Of Canada started coverage on shares of Amcor in a report on Monday, September 22nd. They issued a “sector perform” rating for the company. JPMorgan Chase & Co. started coverage on shares of Amcor in a research note on Friday, September 19th. They set an “overweight” rating and a $10.00 target price on the stock. Wells Fargo & Company decreased their target price on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, October 15th. Finally, Robert W. Baird dropped their price target on shares of Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.91.

Insider Buying and Selling

In other Amcor news, Director Stephen E. Sterrett purchased 10,000 shares of Amcor stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the transaction, the director directly owned 10,000 shares in the company, valued at $85,500. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.32% of the stock is currently owned by company insiders.

Amcor Price Performance

Shares of NYSE AMCR opened at $8.58 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. The company has a market cap of $19.77 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.14 and a beta of 0.72. The stock’s 50-day moving average is $8.16 and its two-hundred day moving average is $8.85. Amcor PLC has a 1-year low of $7.66 and a 1-year high of $10.70.

Amcor (NYSE:AMCR) last posted its earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.Amcor’s revenue for the quarter was up 71.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. Analysts forecast that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Friday, November 28th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 6.1%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, November 28th. Amcor’s dividend payout ratio is presently 152.94%.

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.