McIlrath & Eck LLC Acquires Shares of 13,734 Amcor PLC $AMCR

McIlrath & Eck LLC acquired a new stake in shares of Amcor PLC (NYSE:AMCR) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 13,734 shares of the company’s stock, valued at approximately $546,000.

Several other hedge funds have also recently modified their holdings of the stock. AdvisorNet Financial Inc bought a new position in shares of Amcor during the 1st quarter valued at about $25,000. DV Equities LLC bought a new position in Amcor during the fourth quarter valued at approximately $27,000. Brown Lisle Cummings Inc. grew its holdings in Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after buying an additional 2,000 shares in the last quarter. Larson Financial Group LLC increased its stake in Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after acquiring an additional 1,257 shares during the last quarter. Finally, N.E.W. Advisory Services LLC increased its stake in Amcor by 10.1% in 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. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMCR. BMO Capital Markets assumed coverage on shares of Amcor in a research report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price target on the stock. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. dropped their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Citigroup lowered their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Truist Financial reissued a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $48.08.

Amcor Stock Performance

Shares of NYSE:AMCR opened at $45.20 on Friday. The firm’s 50 day simple moving average is $41.76 and its 200-day simple moving average is $42.31. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. Amcor PLC has a one year low of $36.25 and a one year high of $50.94. The firm has a market cap of $20.90 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 1.44 and a beta of 0.62.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.96. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.Amcor’s revenue was up 77.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. As a group, equities analysts predict that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was 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.