Silicon Valley Capital Partners Acquires New Shares in Amcor PLC $AMCR

Silicon Valley Capital Partners acquired a new position in Amcor PLC (NYSE:AMCR) in the first quarter, HoldingsChannel reports. The fund acquired 187,144 shares of the company’s stock, valued at approximately $7,439,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Amcor by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock valued at $2,596,000 after purchasing an additional 20,757 shares during the period. Focus Partners Wealth lifted its position in shares of Amcor by 11.3% in the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after purchasing an additional 4,396 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Amcor during the second quarter valued at approximately $138,000. Arrowstreet Capital Limited Partnership purchased a new position in Amcor during the second quarter valued at approximately $6,426,000. Finally, CW Advisors LLC purchased a new position in Amcor during the second quarter valued at approximately $228,000. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Citigroup lowered their target price on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. Wells Fargo & Company set a $43.00 price target on Amcor and gave the company an “equal weight” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. decreased their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Bank of America lifted their target price on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.08.

Amcor Stock Down 1.4%

Amcor stock opened at $45.20 on Friday. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The business has a fifty day moving average price of $41.76 and a 200-day moving average price of $42.31. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The stock has a market capitalization of $20.90 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 1.44 and a beta of 0.62.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the company posted $0.90 EPS. The firm’s quarterly revenue was up 77.4% compared to the same quarter last year. Equities research analysts forecast that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were issued a dividend of $0.65 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. Amcor’s dividend payout ratio is 181.82%.

Amcor 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.