MidFirst Bank Makes New Investment in Amcor PLC $AMCR

MidFirst Bank bought a new position in Amcor PLC (NYSE:AMCR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,758 shares of the company’s stock, valued at approximately $148,000.

A number of other institutional investors have also recently modified their holdings of AMCR. DV Equities LLC bought a new position in Amcor in the 4th quarter worth about $27,000. Brown Lisle Cummings Inc. grew its position 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 last quarter. Larson Financial Group LLC increased 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 in the last quarter. N.E.W. Advisory Services LLC increased 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 in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in Amcor in the second quarter worth about $36,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMCR has been the topic of a number of recent analyst reports. Wells Fargo & Company set a $41.00 price target on shares of Amcor and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. JPMorgan Chase & Co. lowered their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. 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 on the stock. Finally, Citigroup reduced their target price on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.33.

Amcor Price Performance

AMCR opened at $40.70 on Tuesday. The company’s 50-day simple moving average is $39.36 and its two-hundred day simple moving average is $41.94. 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 stock has a market capitalization of $18.82 billion, a P/E ratio of 28.46, a P/E/G ratio of 1.24 and a beta of 0.64. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94.

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

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s payout ratio is 181.82%.

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.