Creative Financial Designs Inc. ADV Grows Stock Holdings in Amcor PLC $AMCR

Creative Financial Designs Inc. ADV grew its holdings in Amcor PLC (NYSE:AMCR) by 10.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,412 shares of the company’s stock after purchasing an additional 24,795 shares during the quarter. Creative Financial Designs Inc. ADV owned about 0.06% of Amcor worth $2,172,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. State Street Corp lifted its stake in Amcor by 7.2% in the 3rd quarter. State Street Corp now owns 139,077,241 shares of the company’s stock worth $1,137,652,000 after purchasing an additional 9,375,255 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Amcor by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after buying an additional 1,845,627 shares during the period. M&G PLC raised its position in shares of Amcor by 26.6% during the 3rd quarter. M&G PLC now owns 108,333,984 shares of the company’s stock valued at $866,672,000 after buying an additional 22,737,979 shares during the period. Invesco Ltd. raised its position in shares of Amcor by 29.9% during the 3rd quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock valued at $385,373,000 after buying an additional 10,846,351 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of Amcor by 103.9% during the 3rd quarter. Federated Hermes Inc. now owns 39,344,317 shares of the company’s stock valued at $321,837,000 after buying an additional 20,052,979 shares during the period. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AMCR shares. Robert W. Baird set a $54.00 price target on shares of Amcor in a research report on Wednesday, February 4th. JPMorgan Chase & Co. reduced their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Morgan Stanley lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target on the stock. in a research report on Wednesday, January 28th. Finally, Wells Fargo & Company set a $41.00 price target on shares of Amcor and gave the company an “equal weight” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Amcor presently has an average rating of “Moderate Buy” and a consensus target price of $49.33.

Amcor Stock Up 3.9%

Shares of NYSE AMCR opened at $38.14 on Thursday. The firm has a market cap of $17.63 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 1.11 and a beta of 0.63. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94. The business’s 50 day moving average is $39.74 and its two-hundred day moving average is $42.36.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.96. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 earnings per share. Research analysts predict that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be given a $0.65 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 6.8%. Amcor’s payout ratio is presently 181.82%.

Amcor Company Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.