Amcor PLC (NYSE:AMCR) Stock Position Raised by Cerity Partners LLC

Cerity Partners LLC grew its holdings in shares of Amcor PLC (NYSE:AMCR) by 8.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,560 shares of the company’s stock after purchasing an additional 6,834 shares during the quarter. Cerity Partners LLC’s holdings in Amcor were worth $811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Rakuten Securities Inc. grew its stake in shares of Amcor by 18,725.0% in the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company’s stock valued at $29,000 after acquiring an additional 2,996 shares in the last quarter. HM Payson & Co. bought a new stake in shares of Amcor during the 1st quarter worth $30,000. CVA Family Office LLC raised its stake in Amcor by 234.1% in the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company’s stock valued at $32,000 after acquiring an additional 2,280 shares during the period. Quarry LP grew its holdings in shares of Amcor by 2,064.5% during the fourth quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after purchasing an additional 3,551 shares in the last quarter. Finally, Huntington National Bank lifted its position in Amcor by 52.4% in the fourth quarter. Huntington National Bank now owns 4,426 shares of the company’s stock valued at $42,000 after purchasing an additional 1,522 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMCR. Raymond James Financial assumed coverage on Amcor in a report on Tuesday, April 22nd. They set a “market perform” rating on the stock. Truist Financial set a $11.00 price objective on Amcor and gave the company a “buy” rating in a research note on Friday, July 11th. UBS Group upgraded Amcor from a “neutral” rating to a “buy” rating in a report on Thursday, June 26th. Jefferies Financial Group began coverage on Amcor in a report on Wednesday, July 2nd. They issued a “buy” rating and a $12.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on Amcor from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.51.

Amcor Trading Up 1.3%

Shares of AMCR stock opened at $9.82 on Thursday. The stock has a market cap of $14.19 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 1.24 and a beta of 0.73. Amcor PLC has a twelve month low of $8.37 and a twelve month high of $11.48. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 2.24. The company’s 50-day moving average price is $9.31 and its 200-day moving average price is $9.53.

Amcor (NYSE:AMCR) last announced 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 26.49% and a net margin of 5.99%. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period last year, the business posted $0.13 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities analysts predict that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were given 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 5.20%. Amcor’s dividend payout ratio (DPR) is 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.