Hudson Valley Investment Advisors Inc. ADV Invests $104,000 in Amcor plc (NYSE:AMCR)

Hudson Valley Investment Advisors Inc. ADV acquired a new position in shares of Amcor plc (NYSE:AMCR) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 11,000 shares of the company’s stock, valued at approximately $104,000.

A number of other hedge funds have also modified their holdings of the business. Lake Street Advisors Group LLC increased its stake in shares of Amcor by 8.4% during the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock worth $138,000 after purchasing an additional 946 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Amcor by 9.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock worth $132,000 after acquiring an additional 1,023 shares during the last quarter. Forum Financial Management LP boosted its position in Amcor by 7.7% during the third quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock worth $167,000 after acquiring an additional 1,058 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its position in Amcor by 6.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock worth $215,000 after acquiring an additional 1,085 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its position in Amcor by 3.9% during the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock worth $304,000 after acquiring an additional 1,213 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMCR. Wells Fargo & Company raised their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and lifted their price target for the company from $11.00 to $12.00 in a report on Monday, January 6th. 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 stock. According to MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Performance

Shares of AMCR stock opened at $9.43 on Friday. The company’s fifty day simple moving average is $9.95 and its 200-day simple moving average is $10.44. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The company has a market cap of $13.63 billion, a PE ratio of 17.79, a P/E/G ratio of 1.80 and a beta of 0.84.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm posted $0.16 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were paid a dividend of $0.1275 per share. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 5.41%. Amcor’s payout ratio is 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.