Ibex Wealth Advisors Makes New Investment in Amcor PLC $AMCR

Ibex Wealth Advisors bought a new stake in Amcor PLC (NYSE:AMCR) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 169,358 shares of the company’s stock, valued at approximately $6,732,000.

Several other large investors also recently modified their holdings of the business. Capital International Investors acquired a new stake in shares of Amcor during the fourth quarter worth about $354,227,000. Norges Bank acquired a new position in shares of Amcor in the 4th quarter valued at approximately $308,724,000. AQR Capital Management LLC increased its stake in Amcor by 398.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after purchasing an additional 12,803,785 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Amcor during the 4th quarter worth approximately $103,713,000. Finally, Invesco Ltd. raised its holdings in Amcor by 29.9% during the 3rd quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after buying an additional 10,846,351 shares during the period. 45.14% of the stock is currently owned by institutional investors.

Amcor Price Performance

Shares of AMCR opened at $42.71 on Friday. The company has a market cap of $19.75 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 1.18 and a beta of 0.62. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The company’s fifty day simple moving average is $40.10 and its 200 day simple moving average is $42.10. 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 (NYSE:AMCR) last issued its earnings results 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 business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period last year, the business posted $0.90 EPS. Amcor’s revenue was up 77.4% on a year-over-year basis. On average, research analysts forecast that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on shares of 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 price objective 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. Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Finally, Truist Financial reiterated a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Amcor has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

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.