Amcor PLC $AMCR Stock: Dupree Financial Group LLC Increases Holdings

Dupree Financial Group LLC grew its position in Amcor PLC (NYSE:AMCR) by 41.5% in the third quarter, Holdings Channel reports. The fund owned 267,653 shares of the company’s stock after acquiring an additional 78,544 shares during the quarter. Amcor accounts for 2.9% of Dupree Financial Group LLC’s portfolio, making the stock its 6th largest holding. Dupree Financial Group LLC’s holdings in Amcor were worth $11,204,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of AMCR. Brown Financial Advisors grew its position in Amcor by 3.9% during the 2nd quarter. Brown Financial Advisors now owns 6,287 shares of the company’s stock worth $273,000 after acquiring an additional 237 shares during the last quarter. FNY Investment Advisers LLC raised its position in Amcor by 16.1% in the second quarter. FNY Investment Advisers LLC now owns 3,600 shares of the company’s stock valued at $156,000 after purchasing an additional 500 shares during the last quarter. Van Hulzen Asset Management LLC raised its position in Amcor by 6.7% in the second quarter. Van Hulzen Asset Management LLC now owns 8,005 shares of the company’s stock valued at $347,000 after purchasing an additional 500 shares during the last quarter. Bangor Savings Bank acquired a new stake in shares of Amcor during the second quarter valued at about $26,000. Finally, Fiduciary Financial Group LLC boosted its stake in shares of Amcor by 8.4% during the second quarter. Fiduciary Financial Group LLC now owns 7,863 shares of the company’s stock valued at $341,000 after purchasing an additional 612 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

AMCR has been the subject of several recent research reports. UBS Group began coverage on Amcor in a research note on Tuesday, August 11th. They issued a “buy” rating and a $56.00 price objective for the company. Jefferies Financial Group set a $44.92 target price on shares of Amcor and gave the stock a “hold” rating in a research report on Tuesday, July 21st. BMO Capital Markets began coverage on shares of Amcor in a report on Thursday, July 16th. They set a “market perform” rating and a $47.00 target price on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $47.00 price target (up from $44.00) on shares of Amcor in a research report on Monday, August 17th. Finally, Bank of America raised their price target on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.36.

Amcor Stock Performance

Shares of Amcor stock opened at $41.73 on Friday. The business has a 50-day moving average price of $44.62 and a two-hundred day moving average price of $42.14. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 1.17. The company has a market cap of $19.29 billion, a P/E ratio of 17.68, a PEG ratio of 2.60 and a beta of 0.58.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, August 13th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. Amcor had a return on equity of 15.92% and a net margin of 4.71%. The company had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the prior year, the company earned $0.20 EPS. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, analysts anticipate that Amcor PLC will post 1.84 EPS for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Friday, September 4th were paid a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.60 annualized dividend and a yield of 6.2%. Amcor’s payout ratio is 110.17%.

About Amcor

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging for food, beverages, pharmaceutical and medical products, personal care items, household goods and other consumer and industrial applications. Its portfolio includes flexible packaging, rigid containers, films, laminates, bags, bottles, closures, cartons and specialty packaging solutions.

The company works with brand owners and manufacturers to design packaging that supports product protection, shelf life, convenience and presentation.