Amcor PLC $AMCR Shares Purchased by Silicon Valley Capital Partners

Silicon Valley Capital Partners increased its holdings in Amcor PLC (NYSE:AMCR) by 27.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 237,654 shares of the company’s stock after purchasing an additional 50,510 shares during the quarter. Silicon Valley Capital Partners’ holdings in Amcor were worth $10,302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Financial Advisors raised its position in Amcor by 3.9% in the second quarter. Brown Financial Advisors now owns 6,287 shares of the company’s stock valued at $273,000 after purchasing an additional 237 shares during the period. CYBER HORNET ETFs LLC grew its holdings in shares of Amcor by 11.1% during the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock worth $37,000 after purchasing an additional 447 shares during the period. FNY Investment Advisers LLC increased its position in shares of Amcor by 16.1% during the 2nd quarter. FNY Investment Advisers LLC now owns 3,600 shares of the company’s stock worth $156,000 after purchasing an additional 500 shares during the last quarter. Van Hulzen Asset Management LLC increased its position in shares of Amcor by 6.7% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 8,005 shares of the company’s stock worth $347,000 after purchasing an additional 500 shares during the last quarter. Finally, Bangor Savings Bank acquired a new stake in shares of Amcor during the 2nd quarter worth about $26,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $47.00 target price (up from $44.00) on shares of Amcor in a research report on Monday, August 17th. Truist Financial set a $51.00 price target on shares of Amcor in a research report on Tuesday, August 18th. BMO Capital Markets began coverage on shares of Amcor in a report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price objective on the stock. Jefferies Financial Group set a $44.92 price objective on shares of Amcor and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Finally, Bank of America lifted their target price on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.49.

Amcor Trading Up 0.5%

AMCR traded up $0.23 during mid-day trading on Monday, hitting $42.13. 3,125,612 shares of the stock were exchanged, compared to its average volume of 4,736,253. The firm’s fifty day moving average is $45.23 and its two-hundred day moving average is $42.11. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The company has a market cap of $19.48 billion, a PE ratio of 17.85, a PEG ratio of 2.29 and a beta of 0.60. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 1.17.

Amcor (NYSE:AMCR) last released its earnings results on Thursday, August 13th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. The company had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.05 billion. Amcor had a return on equity of 15.92% and a net margin of 4.71%.Amcor’s revenue was up 25.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS. Equities analysts forecast that Amcor PLC will post 1.84 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, September 4th will be issued a $0.65 dividend. The ex-dividend date is Friday, September 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.2%. Amcor’s payout ratio is 110.17%.

About Amcor

Amcor plc (NYSE: AMCR) is a global packaging company that develops and manufactures packaging products for the food, beverage, pharmaceutical, medical, personal care, household and other consumer and industrial markets. Its portfolio is designed to help protect products, extend shelf life, support transportation and improve convenience and sustainability.

The company produces flexible packaging, including films, pouches, bags, lidding and specialty laminates, as well as rigid packaging such as bottles, containers, closures and other molded products.