Howard Capital Management Inc. Buys Shares of 25,269 Amcor plc (NYSE:AMCR)

Howard Capital Management Inc. bought a new stake in Amcor plc (NYSE:AMCR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,269 shares of the company’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMCR. M&G PLC lifted its position in shares of Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after acquiring an additional 2,775,794 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Amcor by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock worth $489,348,000 after acquiring an additional 1,960,308 shares during the period. Geode Capital Management LLC lifted its position in shares of Amcor by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock worth $410,144,000 after acquiring an additional 697,320 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Amcor by 275.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after acquiring an additional 4,851,222 shares during the period. Finally, Vest Financial LLC lifted its position in shares of Amcor by 7.3% in the 4th quarter. Vest Financial LLC now owns 5,127,348 shares of the company’s stock worth $48,248,000 after acquiring an additional 348,026 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

Amcor stock opened at $10.33 on Wednesday. The business has a 50 day simple moving average of $9.74 and a 200 day simple moving average of $10.42. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The company has a market capitalization of $14.92 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the company posted $0.09 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be given a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 4.94%. Amcor’s payout ratio is 92.73%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.46.

Amcor Company Profile

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.