Foresight Capital Management Advisors Inc. Lowers Stock Position in Amcor plc (NYSE:AMCR)

Foresight Capital Management Advisors Inc. cut its position in shares of Amcor plc (NYSE:AMCR) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 149,896 shares of the company’s stock after selling 10,148 shares during the period. Foresight Capital Management Advisors Inc.’s holdings in Amcor were worth $1,411,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in shares of Amcor in the second quarter valued at about $75,000. Choreo LLC acquired a new stake in Amcor during the second quarter worth about $103,000. Thoroughbred Financial Services LLC acquired a new stake in Amcor during the second quarter worth about $183,000. WINTON GROUP Ltd acquired a new stake in Amcor during the second quarter worth about $392,000. Finally, Dimensional Fund Advisors LP increased its position in Amcor by 11.6% during the second quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock worth $143,989,000 after purchasing an additional 1,527,492 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMCR has been the subject of several recent analyst reports. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Wells Fargo & Company increased 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. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Performance

Shares of Amcor stock opened at $9.61 on Thursday. The firm’s fifty day simple moving average is $9.92 and its 200-day simple moving average is $10.45. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.69 and a beta of 0.84. Amcor plc has a 12 month low of $8.78 and a 12 month high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74.

Amcor (NYSE:AMCR) last announced 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 quarter in the prior year, the firm earned $0.16 EPS. Amcor’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, equities analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.31%. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, November 21st. Amcor’s dividend payout ratio is presently 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.