Amcor PLC $AMCR Shares Purchased by KBC Group NV

KBC Group NV grew its position in Amcor PLC (NYSE:AMCR) by 7.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,858,842 shares of the company’s stock after acquiring an additional 202,703 shares during the period. KBC Group NV’s holdings in Amcor were worth $26,273,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cerity Partners LLC lifted its position in shares of Amcor by 8.9% during the 1st quarter. Cerity Partners LLC now owns 83,560 shares of the company’s stock valued at $811,000 after acquiring an additional 6,834 shares during the period. Bleakley Financial Group LLC lifted its holdings in Amcor by 20.5% in the 1st quarter. Bleakley Financial Group LLC now owns 33,145 shares of the company’s stock valued at $322,000 after purchasing an additional 5,629 shares in the last quarter. Sigma Planning Corp boosted its position in Amcor by 17.5% during the first quarter. Sigma Planning Corp now owns 38,694 shares of the company’s stock worth $375,000 after acquiring an additional 5,750 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Amcor by 45.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 14,428 shares of the company’s stock worth $140,000 after purchasing an additional 4,501 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in Amcor in the 1st quarter valued at about $154,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Up 2.0%

Amcor stock opened at $8.58 on Friday. Amcor PLC has a 12 month low of $7.66 and a 12 month high of $10.70. The company’s fifty day simple moving average is $8.16 and its 200-day simple moving average is $8.85. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. The stock has a market cap of $19.77 billion, a P/E ratio of 23.82, a P/E/G ratio of 1.14 and a beta of 0.72.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The firm’s quarterly revenue was up 71.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 EPS. As a group, sell-side analysts forecast that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

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

Analyst Ratings Changes

Several brokerages recently weighed in on AMCR. Morgan Stanley reaffirmed an “overweight” rating and issued a $11.50 target price on shares of Amcor in a research report on Wednesday. Royal Bank Of Canada started coverage on Amcor in a research note on Monday, September 22nd. They set a “sector perform” rating on the stock. Robert W. Baird lowered their price target on shares of Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company cut their price objective on Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, October 15th. Eleven equities 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, Amcor has an average rating of “Moderate Buy” and an average target price of $10.91.

Insider Transactions at Amcor

In other news, Director Stephen E. Sterrett bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the acquisition, the director directly owned 10,000 shares of the company’s stock, valued at $85,500. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

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.