Fieldview Capital Management LLC Acquires Shares of 120,733 Amcor PLC $AMCR

Fieldview Capital Management LLC acquired a new stake in Amcor PLC (NYSE:AMCR) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 120,733 shares of the company’s stock, valued at approximately $1,007,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Icon Wealth Advisors LLC acquired a new position in Amcor in the 4th quarter valued at $103,000. Kestra Advisory Services LLC raised its holdings in shares of Amcor by 42.2% during the 4th quarter. Kestra Advisory Services LLC now owns 81,301 shares of the company’s stock worth $678,000 after buying an additional 24,135 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Amcor by 4.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,346,203 shares of the company’s stock worth $11,227,000 after buying an additional 57,416 shares in the last quarter. Bridgewater Associates LP raised its holdings in shares of Amcor by 100.2% during the 4th quarter. Bridgewater Associates LP now owns 661,573 shares of the company’s stock worth $5,518,000 after buying an additional 331,188 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Amcor by 98.2% during the 4th quarter. UMB Bank n.a. now owns 12,544 shares of the company’s stock worth $105,000 after buying an additional 6,214 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Truist Financial reissued a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Wells Fargo & Company set a $41.00 price target on Amcor and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Citigroup lowered their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

Amcor Trading Down 0.1%

Shares of AMCR stock opened at $40.54 on Monday. The firm has a market capitalization of $18.74 billion, a P/E ratio of 28.35, a P/E/G ratio of 1.23 and a beta of 0.64. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The stock’s fifty day simple moving average is $39.30 and its 200 day simple moving average is $42.01.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.96. The business 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%.Amcor’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS. As a group, sell-side analysts predict that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be given a dividend of $0.65 per share. The ex-dividend date is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 6.4%. Amcor’s payout ratio is currently 181.82%.

About Amcor

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.