19,341 Shares in Amcor PLC $AMCR Bought by NewEdge Wealth LLC

NewEdge Wealth LLC acquired a new position in Amcor PLC (NYSE:AMCR) during the 4th quarter, HoldingsChannel reports. The fund acquired 19,341 shares of the company’s stock, valued at approximately $161,000.

Several other institutional investors also recently modified their holdings of AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Amcor by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock worth $2,596,000 after purchasing an additional 20,757 shares during the last quarter. Focus Partners Wealth lifted its holdings in Amcor by 11.3% in the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock valued at $418,000 after buying an additional 4,396 shares during the period. Sivia Capital Partners LLC acquired a new position in Amcor in the second quarter valued at $138,000. Arrowstreet Capital Limited Partnership acquired a new position in Amcor in the second quarter valued at $6,426,000. Finally, CW Advisors LLC acquired a new position in Amcor in the second quarter valued at $228,000. Institutional investors own 45.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on AMCR shares. Morgan Stanley lowered 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. Deutsche Bank Aktiengesellschaft started 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. JPMorgan Chase & Co. dropped their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Citigroup dropped their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Truist Financial restated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.56.

Amcor Price Performance

Shares of NYSE AMCR opened at $37.49 on Tuesday. The firm’s 50-day moving average price is $39.96 and its 200-day moving average price is $42.39. Amcor PLC has a 1-year low of $36.67 and a 1-year high of $50.94. The firm has a market capitalization of $17.33 billion, a P/E ratio of 26.22, a P/E/G ratio of 1.11 and a beta of 0.63. 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 announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share 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 firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The business’s quarterly revenue was up 77.4% compared to the same quarter last year. Equities research analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 6.9%. Amcor’s dividend payout ratio is currently 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.