Blackhawk Capital Partners LLC. Boosts Position in Amcor plc (NYSE:AMCR)

Blackhawk Capital Partners LLC. grew its stake in shares of Amcor plc (NYSE:AMCR) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,460 shares of the company’s stock after purchasing an additional 7,167 shares during the quarter. Amcor accounts for 1.2% of Blackhawk Capital Partners LLC.’s investment portfolio, making the stock its 29th biggest position. Blackhawk Capital Partners LLC.’s holdings in Amcor were worth $2,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMCR. Lake Street Advisors Group LLC increased its holdings in shares of Amcor by 8.4% in the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock worth $138,000 after acquiring an additional 946 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in Amcor by 9.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock worth $132,000 after purchasing an additional 1,023 shares during the period. Forum Financial Management LP grew its position in Amcor by 7.7% in the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock valued at $167,000 after buying an additional 1,058 shares in the last quarter. Prime Capital Investment Advisors LLC increased its stake in Amcor by 6.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock valued at $215,000 after buying an additional 1,085 shares during the period. Finally, Quent Capital LLC raised its position in shares of Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after buying an additional 1,241 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Citigroup boosted their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Wells Fargo & Company lifted their target price on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, Robert W. Baird upped their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.94.

Amcor Stock Performance

NYSE:AMCR opened at $10.34 on Thursday. The firm’s 50-day moving average is $10.87 and its 200-day moving average is $10.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The company has a market cap of $14.94 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.78 and a beta of 0.85. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48.

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

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be paid a dividend of $0.1275 per share. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 4.93%. Amcor’s dividend payout ratio (DPR) is presently 94.34%.

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.