Independent Advisor Alliance Grows Position in Amcor PLC $AMCR

Independent Advisor Alliance raised its holdings in Amcor PLC (NYSE:AMCR) by 126.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,966 shares of the company’s stock after acquiring an additional 70,415 shares during the period. Independent Advisor Alliance’s holdings in Amcor were worth $1,051,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC purchased a new stake in shares of Amcor during the 3rd quarter valued at $27,000. Brown Lisle Cummings Inc. lifted its holdings in shares of Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after acquiring an additional 2,000 shares during the last quarter. N.E.W. Advisory Services LLC lifted its holdings in shares of Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after acquiring an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Amcor during the 2nd quarter worth $36,000. Finally, Huntington National Bank lifted its holdings in shares of Amcor by 81.8% during the 3rd quarter. Huntington National Bank now owns 4,490 shares of the company’s stock worth $37,000 after acquiring an additional 2,020 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AMCR shares. Wells Fargo & Company downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $48.00 to $43.00 in a report on Friday, March 20th. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Truist Financial reaffirmed a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Robert W. Baird set a $54.00 price objective on shares of Amcor in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.56.

Amcor Price Performance

Shares of NYSE:AMCR opened at $36.71 on Friday. The stock has a market cap of $16.97 billion, a PE ratio of 25.67, a PEG ratio of 1.17 and a beta of 0.63. The company’s fifty day moving average is $40.08 and its 200 day moving average is $42.41. Amcor PLC has a 52 week low of $36.67 and a 52 week 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.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. The company had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm’s revenue was up 77.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 EPS. Research analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

Amcor Company Profile

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.