Summitry LLC Buys Shares of 18,247 Amcor PLC $AMCR

Summitry LLC bought a new stake in shares of Amcor PLC (NYSE:AMCR) in the fourth quarter, Holdings Channel.com reports. The firm bought 18,247 shares of the company’s stock, valued at approximately $152,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brown Lisle Cummings Inc. boosted its stake 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 purchasing an additional 2,000 shares during the period. CYBER HORNET ETFs LLC acquired a new position in Amcor during the 2nd quarter valued at about $36,000. Larson Financial Group LLC lifted its stake in shares of 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 period. N.E.W. Advisory Services LLC lifted its stake in shares of 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 period. Finally, Huntington National Bank lifted its stake in shares of Amcor by 81.8% in 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 period. 45.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AMCR shares. Morgan Stanley lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target for the company. in a research note on Wednesday, January 28th. Truist Financial reaffirmed a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target for the company. Citigroup reduced their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

Amcor Trading Up 1.8%

Shares of NYSE:AMCR opened at $39.65 on Thursday. The company has a 50 day moving average of $39.50 and a 200-day moving average of $42.31. The firm has a market cap of $18.33 billion, a P/E ratio of 27.73, a P/E/G ratio of 1.18 and a beta of 0.63. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30.

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

Amcor Announces Dividend

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 paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.6%. Amcor’s dividend payout ratio is currently 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.