Greenwood Capital Associates LLC Takes $1.20 Million Position in Amcor PLC $AMCR

Greenwood Capital Associates LLC purchased a new position in shares of Amcor PLC (NYSE:AMCR) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 30,110 shares of the company’s stock, valued at approximately $1,197,000.

A number of other institutional investors have also added to or reduced their stakes in AMCR. AdvisorNet Financial Inc acquired a new position in shares of Amcor during the 1st quarter worth about $25,000. DV Equities LLC bought a new position in shares of Amcor during the fourth quarter worth approximately $27,000. Brown Lisle Cummings Inc. lifted its holdings 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 in the last quarter. Larson Financial Group LLC raised its stake in Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after purchasing an additional 1,257 shares in the last quarter. Finally, N.E.W. Advisory Services LLC raised its position in shares of Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after buying an additional 373 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on AMCR. Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target for the company. JPMorgan Chase & Co. cut their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Citigroup cut their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Truist Financial reaffirmed 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $48.00.

Amcor Trading Up 1.8%

NYSE:AMCR opened at $42.71 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. The firm has a 50-day moving average of $40.10 and a 200-day moving average of $42.10. The company has a market cap of $19.75 billion, a PE ratio of 29.87, a PEG ratio of 1.18 and a beta of 0.62. Amcor PLC has a one year low of $36.25 and a one year high of $50.94.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.96. The company 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%.The company’s revenue for the quarter was up 77.4% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. As a group, equities research analysts expect that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were paid a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.1%. Amcor’s dividend payout ratio (DPR) is 181.82%.

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.