Atlantic Family Wealth LLC Has $250,000 Position in Amcor PLC $AMCR

Atlantic Family Wealth LLC decreased its position in shares of Amcor PLC (NYSE:AMCR) by 76.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 6,279 shares of the company’s stock after selling 20,911 shares during the period. Atlantic Family Wealth LLC’s holdings in Amcor were worth $250,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AMCR. AdvisorNet Financial Inc acquired a new position in Amcor during the first quarter valued at approximately $25,000. DV Equities LLC bought a new stake in Amcor during the fourth quarter worth $27,000. Brown Lisle Cummings Inc. boosted its holdings in shares of Amcor by 137.9% in 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 in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Amcor by 46.1% in 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. Finally, N.E.W. Advisory Services LLC increased its stake in shares of Amcor by 10.1% in 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 during the last quarter. 45.14% of the stock is owned by institutional investors.

Amcor Trading Down 1.6%

Shares of AMCR stock opened at $43.22 on Tuesday. The stock has a market cap of $19.98 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 1.38 and a beta of 0.62. The stock has a 50-day moving average of $40.71 and a 200-day moving average of $42.19. 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 PLC has a 1-year low of $36.25 and a 1-year high of $50.94.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting 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 firm’s quarterly revenue was up 77.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. On average, equities research analysts forecast that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were issued a dividend of $0.65 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.0%. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Citigroup lowered their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. BMO Capital Markets started coverage on Amcor in a research report on Thursday. They issued a “market perform” rating and a $47.00 target price on the stock. Bank of America boosted their target price on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Truist Financial reissued a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Finally, Wells Fargo & Company set a $43.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.40.

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.