Icon Wealth Advisors LLC Makes New $103,000 Investment in Amcor PLC $AMCR

Icon Wealth Advisors LLC bought a new position in shares of Amcor PLC (NYSE:AMCR) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 12,368 shares of the company’s stock, valued at approximately $103,000.

Several other institutional investors also recently modified their holdings of AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Amcor by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock worth $2,596,000 after buying an additional 20,757 shares during the period. Focus Partners Wealth grew its position in shares of Amcor by 11.3% during the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after buying an additional 4,396 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Amcor during the 2nd quarter worth about $138,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Amcor during the 2nd quarter worth about $6,426,000. Finally, CW Advisors LLC acquired a new position in shares of Amcor during the 2nd quarter worth about $228,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

AMCR opened at $41.13 on Tuesday. The firm has a market cap of $19.02 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 1.23 and a beta of 0.64. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The business’s fifty day moving average is $39.32 and its 200-day moving average is $42.00.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.Amcor’s revenue was up 77.4% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. Sell-side analysts expect that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMCR shares. Truist Financial restated a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Citigroup dropped their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a research note on Wednesday, April 1st. They set 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. Finally, JPMorgan Chase & Co. dropped 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 research 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. Based on data from MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and an average price target of $49.33.

Amcor 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.