Capital Group Private Client Services Inc. Buys New Position in Amcor PLC $AMCR

Capital Group Private Client Services Inc. bought a new stake in shares of Amcor PLC (NYSE:AMCR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 20,610 shares of the company’s stock, valued at approximately $172,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. boosted its stake in Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares during the period. Larson Financial Group LLC boosted its stake in Amcor by 46.1% during the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after purchasing an additional 1,257 shares during the period. N.E.W. Advisory Services LLC boosted its stake in Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after purchasing an additional 373 shares during the period. CYBER HORNET ETFs LLC bought a new stake in Amcor during the 2nd quarter valued at approximately $36,000. Finally, Huntington National Bank boosted its stake in Amcor by 81.8% during the 3rd quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after purchasing an additional 2,020 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of AMCR stock opened at $37.83 on Tuesday. The stock has a 50 day moving average of $39.29 and a two-hundred day moving average of $42.09. 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 PLC has a 12 month low of $36.25 and a 12 month high of $50.94. The company has a market capitalization of $17.49 billion, a P/E ratio of 26.45, a P/E/G ratio of 1.15 and a beta of 0.64.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the company earned $0.90 EPS. The company’s quarterly revenue was up 77.4% on a year-over-year basis. As a group, equities analysts expect that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be given 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 6.9%. Amcor’s dividend payout ratio (DPR) is currently 181.82%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMCR. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price for the company. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. decreased their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company set a $41.00 target price on Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Finally, Citigroup reduced their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.33.

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.