Heritage Wealth Management Inc. CA Purchases New Position in Amcor PLC $AMCR

Heritage Wealth Management Inc. CA purchased a new stake in shares of Amcor PLC (NYSE:AMCR) in the 4th quarter, Holdings Channel reports. The fund purchased 28,801 shares of the company’s stock, valued at approximately $240,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quent Capital LLC bought a new stake in shares of Amcor during the third quarter valued at approximately $27,000. Brown Lisle Cummings Inc. increased its position in shares of Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares in the last quarter. N.E.W. Advisory Services LLC increased its position in shares of Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after acquiring an additional 373 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Amcor in the second quarter worth approximately $36,000. Finally, Huntington National Bank boosted its holdings in Amcor by 81.8% in the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock worth $37,000 after purchasing an additional 2,020 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Down 0.3%

AMCR opened at $39.10 on Thursday. 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 fifty-two week low of $36.67 and a fifty-two week high of $50.94. The firm’s fifty day moving average is $40.43 and its 200 day moving average is $42.46. The stock has a market cap of $18.08 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 1.18 and a beta of 0.63.

Amcor (NYSE:AMCR) last released 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. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The company had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the previous year, the company earned $0.90 EPS. Amcor’s revenue for the quarter was up 77.4% on a year-over-year basis. On average, sell-side analysts forecast that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be issued a $0.65 dividend. The ex-dividend date is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.6%. Amcor’s payout ratio is 181.82%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMCR. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Wells Fargo & Company cut shares of Amcor from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $48.00 to $43.00 in a report on Friday, March 20th. Robert W. Baird set a $54.00 target price on shares of Amcor in a report on Wednesday, February 4th. Morgan Stanley cut shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 target price on the stock. in a report on Wednesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Amcor has a consensus rating of “Moderate Buy” and a consensus price target of $49.56.

About Amcor

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.