Amcor plc (NYSE:AMCR) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC grew its position in shares of Amcor plc (NYSE:AMCR) by 15.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,594 shares of the company’s stock after purchasing an additional 3,023 shares during the period. Park Avenue Securities LLC’s holdings in Amcor were worth $219,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AMCR. Allspring Global Investments Holdings LLC raised its position in Amcor by 4.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 81,433 shares of the company’s stock valued at $761,000 after purchasing an additional 3,751 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Amcor in the 4th quarter valued at about $2,605,000. Asset Management One Co. Ltd. raised its position in Amcor by 9.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 567,573 shares of the company’s stock valued at $5,358,000 after purchasing an additional 47,348 shares in the last quarter. Kestra Investment Management LLC raised its position in Amcor by 23.5% in the 4th quarter. Kestra Investment Management LLC now owns 23,916 shares of the company’s stock valued at $225,000 after purchasing an additional 4,547 shares in the last quarter. Finally, Cardinal Capital Management increased its holdings in Amcor by 1.9% in the fourth quarter. Cardinal Capital Management now owns 119,305 shares of the company’s stock valued at $1,123,000 after buying an additional 2,211 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Raymond James assumed coverage on Amcor in a report on Tuesday, April 22nd. They issued a “market perform” rating on the stock. Truist Financial dropped their target price on Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.31.

Amcor Trading Up 1.0%

Shares of Amcor stock opened at $9.19 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a 1 year low of $8.37 and a 1 year high of $11.48. The company has a market capitalization of $13.29 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.96 and a beta of 0.73. The business has a 50 day moving average price of $9.23 and a 200 day moving average price of $9.59.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the previous year, the firm posted $0.13 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were paid a $0.1275 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.55%. Amcor’s payout ratio is currently 91.07%.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.