Evoke Wealth LLC Acquires New Shares in Amcor PLC $AMCR

Evoke Wealth LLC acquired a new stake in shares of Amcor PLC (NYSE:AMCR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,038 shares of the company’s stock, valued at approximately $109,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brown Lisle Cummings Inc. boosted 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 period. Larson Financial Group LLC boosted its position 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 during the period. N.E.W. Advisory Services LLC boosted its position 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 during the period. CYBER HORNET ETFs LLC acquired a new position in Amcor during the 2nd quarter valued at approximately $36,000. Finally, Huntington National Bank boosted its position in Amcor by 81.8% during the 3rd quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after purchasing an additional 2,020 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Up 1.5%

Shares of Amcor stock opened at $38.94 on Wednesday. The business’s fifty day moving average price is $39.52 and its two-hundred day moving average price is $42.32. 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 company has a market capitalization of $18.00 billion, a P/E ratio of 27.23, a PEG ratio of 1.16 and a beta of 0.63. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94.

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

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend is Thursday, May 28th. Amcor’s payout ratio is currently 181.82%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AMCR. Morgan Stanley lowered Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective for the company. in a research report on Wednesday, January 28th. Wells Fargo & Company set a $41.00 target price on Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Truist Financial reaffirmed a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. JPMorgan Chase & Co. cut their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, Citigroup cut their target price on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

Amcor 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.