KBC Group NV Buys 1,430,545 Shares of Amcor plc (NYSE:AMCR)

KBC Group NV increased its stake in Amcor plc (NYSE:AMCR) by 94.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,940,184 shares of the company’s stock after buying an additional 1,430,545 shares during the quarter. KBC Group NV owned approximately 0.20% of Amcor worth $33,312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Prime Capital Investment Advisors LLC lifted its stake in Amcor by 6.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock valued at $215,000 after acquiring an additional 1,085 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Amcor by 51.9% during the 3rd quarter. GSA Capital Partners LLP now owns 34,190 shares of the company’s stock worth $387,000 after purchasing an additional 11,685 shares during the last quarter. Entropy Technologies LP acquired a new stake in Amcor in the 3rd quarter valued at about $345,000. Crossmark Global Holdings Inc. lifted its stake in Amcor by 77.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 208,758 shares of the company’s stock valued at $2,365,000 after purchasing an additional 91,321 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Amcor by 441.0% during the third quarter. Covestor Ltd now owns 7,963 shares of the company’s stock worth $90,000 after purchasing an additional 6,491 shares during the period. 45.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Amcor Stock Performance

Shares of NYSE AMCR opened at $10.18 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The firm has a market cap of $14.71 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 1.83 and a beta of 0.85. The stock’s fifty day moving average price is $10.96 and its two-hundred day moving average price is $10.48. Amcor plc has a one year low of $8.78 and a one year high of $11.48.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate 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 period in the prior year, the company posted $0.16 earnings per share. Amcor’s revenue was down 2.6% compared to the same quarter last year. On average, equities analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be paid a $0.1275 dividend. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend is Thursday, November 21st. 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.