Alps Advisors Inc. Grows Stock Holdings in Amcor PLC $AMCR

Alps Advisors Inc. raised its position in shares of Amcor PLC (NYSE:AMCR) by 2.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,048,031 shares of the company’s stock after buying an additional 85,083 shares during the period. Alps Advisors Inc.’s holdings in Amcor were worth $25,421,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AMCR. Brown Lisle Cummings Inc. boosted its position in shares of Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares during the period. Larson Financial Group LLC boosted its position in shares of Amcor by 46.1% during the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after buying an additional 1,257 shares during the period. N.E.W. Advisory Services LLC boosted its position in shares of Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after buying an additional 373 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in shares of Amcor during the second quarter worth $36,000. Finally, Huntington National Bank raised its stake in shares of Amcor by 81.8% in the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after acquiring an additional 2,020 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Stock Performance

NYSE AMCR opened at $39.96 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The company has a market capitalization of $18.48 billion, a PE ratio of 27.94, a P/E/G ratio of 1.15 and a beta of 0.64. The company has a fifty day moving average of $39.30 and a two-hundred day moving average of $42.02.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) 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 company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Amcor’s revenue for the quarter was up 77.4% on a year-over-year basis. As a group, analysts expect that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 6.5%. The ex-dividend date is Thursday, May 28th. Amcor’s dividend payout ratio is currently 181.82%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Truist Financial reiterated a “buy” rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Finally, JPMorgan Chase & Co. reduced their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Amcor has an average rating of “Moderate Buy” and an average target price of $49.33.

About Amcor

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.