Envestnet Asset Management Inc. Raises Position in Amcor PLC (NYSE:AMCR)

Envestnet Asset Management Inc. grew its holdings in Amcor PLC (NYSE:AMCR) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,151,517 shares of the company’s stock after acquiring an additional 88,028 shares during the period. Envestnet Asset Management Inc. owned about 0.22% of Amcor worth $30,570,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of AMCR. UMB Bank n.a. raised its holdings in shares of Amcor by 20.0% in the 1st quarter. UMB Bank n.a. now owns 6,386 shares of the company’s stock valued at $62,000 after purchasing an additional 1,066 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in Amcor by 10.1% in the first quarter. Koshinski Asset Management Inc. now owns 13,659 shares of the company’s stock valued at $132,000 after buying an additional 1,252 shares in the last quarter. Virtue Capital Management LLC boosted its position in shares of Amcor by 2.8% during the 4th quarter. Virtue Capital Management LLC now owns 45,924 shares of the company’s stock worth $432,000 after acquiring an additional 1,259 shares in the last quarter. Utah Retirement Systems increased its holdings in shares of Amcor by 1.1% in the 4th quarter. Utah Retirement Systems now owns 120,076 shares of the company’s stock valued at $1,130,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Private Trust Co. NA increased its holdings in shares of Amcor by 5.1% in the 1st quarter. Private Trust Co. NA now owns 27,301 shares of the company’s stock valued at $265,000 after acquiring an additional 1,315 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMCR. Truist Financial set a $11.00 price target on Amcor and gave the company a “buy” rating in a report on Friday. UBS Group raised shares of Amcor from a “neutral” rating to a “buy” rating in a research report on Thursday, June 26th. Raymond James Financial initiated coverage on shares of Amcor in a research report on Tuesday, April 22nd. They issued a “market perform” rating for the company. Jefferies Financial Group assumed coverage on Amcor in a report on Wednesday, July 2nd. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Wells Fargo & Company started coverage on Amcor in a research report on Thursday, June 26th. They set an “overweight” rating and a $10.00 target price on the stock. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and an average target price of $11.37.

Amcor Price Performance

Shares of NYSE:AMCR opened at $9.63 on Tuesday. Amcor PLC has a one year low of $8.37 and a one year high of $11.48. The stock has a market capitalization of $13.92 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.22 and a beta of 0.73. The company has a 50-day simple moving average of $9.26 and a 200-day simple moving average of $9.53. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Amcor had a return on equity of 26.49% and a net margin of 5.99%. 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 prior year, the business earned $0.13 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. On average, analysts predict that Amcor PLC will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were paid a dividend of $0.1275 per share. The ex-dividend date was Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.30%. Amcor’s dividend payout ratio (DPR) is 91.07%.

Amcor 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.