Choreo LLC Invests $103,000 in Amcor plc (NYSE:AMCR)

Choreo LLC bought a new position in shares of Amcor plc (NYSE:AMCR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,668 shares of the company’s stock, valued at approximately $103,000.

Other large investors also recently made changes to their positions in the company. Riverview Trust Co bought a new position in Amcor during the 1st quarter worth $28,000. Quent Capital LLC increased its stake in Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after acquiring an additional 1,241 shares during the period. EverSource Wealth Advisors LLC increased its stake in Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after acquiring an additional 2,519 shares during the period. UMB Bank n.a. increased its stake in Amcor by 38.7% during the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after acquiring an additional 1,299 shares during the period. Finally, ORG Partners LLC bought a new position in Amcor during the 2nd quarter worth $47,000. Institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

AMCR has been the topic of several recent analyst reports. Robert W. Baird lifted their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Stifel Nicolaus initiated coverage on Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price target on the stock. Citigroup lifted their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company lifted their price target on Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research note on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.73.

Amcor Trading Down 1.9 %

NYSE AMCR opened at $10.90 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. Amcor plc has a twelve month low of $8.45 and a twelve month high of $11.45. The company has a market cap of $15.75 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85. The business’s fifty day moving average is $10.73 and its 200 day moving average is $10.02.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, August 15th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. The firm had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 EPS. As a group, sell-side analysts expect that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Friday, September 6th. Amcor’s payout ratio is presently 111.11%.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.