15,453 Shares in Amcor PLC $AMCR Bought by ABN Amro Investment Solutions

ABN Amro Investment Solutions bought a new position in shares of Amcor PLC (NYSE:AMCR) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,453 shares of the company’s stock, valued at approximately $614,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AdvisorNet Financial Inc acquired a new stake in Amcor during the 1st quarter valued at $25,000. DV Equities LLC acquired a new position in Amcor during the fourth quarter valued at $27,000. Brown Lisle Cummings Inc. grew its stake 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 acquiring an additional 2,000 shares in the last quarter. Larson Financial Group LLC grew 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 acquiring an additional 1,257 shares in the last quarter. Finally, N.E.W. Advisory Services LLC increased its holdings 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 period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of NYSE AMCR opened at $44.60 on Friday. The business’s 50-day simple moving average is $41.11 and its 200-day simple moving average is $42.23. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The firm has a market cap of $20.62 billion, a price-to-earnings ratio of 31.19, a P/E/G ratio of 1.40 and a beta of 0.62.

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

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 5.8%. Amcor’s payout ratio is currently 181.82%.

Wall Street Analysts Forecast Growth

AMCR has been the subject of a number of research analyst reports. Bank of America increased their price target on shares of Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Jefferies Financial Group set a $44.92 price objective on shares of Amcor and gave the company a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Citigroup lowered their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, BMO Capital Markets assumed coverage on Amcor in a research report on Thursday, July 16th. They set a “market perform” rating and a $47.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Amcor has a consensus rating of “Moderate Buy” and a consensus target price of $48.08.

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.