Delap Wealth Advisory LLC Purchases Shares of 23,338 Amcor plc (NYSE:AMCR)

Delap Wealth Advisory LLC acquired a new position in shares of Amcor plc (NYSE:AMCR) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 23,338 shares of the company’s stock, valued at approximately $228,000.

Other hedge funds have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. boosted its holdings in Amcor by 40.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 743,325 shares of the company’s stock valued at $7,069,000 after purchasing an additional 214,458 shares in the last quarter. Empowered Funds LLC grew its position in shares of Amcor by 244.2% in the 1st quarter. Empowered Funds LLC now owns 103,655 shares of the company’s stock valued at $986,000 after buying an additional 73,541 shares during the last quarter. M&G Plc grew its position in shares of Amcor by 2,741.7% in the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after buying an additional 45,504,608 shares during the last quarter. CHURCHILL MANAGEMENT Corp raised its stake in Amcor by 60.0% during the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 601,225 shares of the company’s stock worth $5,718,000 after acquiring an additional 225,441 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in Amcor by 236.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,648,279 shares of the company’s stock valued at $15,675,000 after acquiring an additional 1,157,878 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Amcor stock opened at $10.90 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69. The business has a 50 day simple moving average of $10.73 and a 200-day simple moving average of $10.02. Amcor plc has a 12 month low of $8.45 and a 12 month high of $11.45. The stock has a market capitalization of $15.75 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, August 15th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $1.30 billion. Amcor had a net margin of 5.35% and a return on equity of 25.45%. Amcor’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 EPS. Equities analysts predict that Amcor plc will post 0.75 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be given 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 111.11%.

Analysts Set New Price Targets

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

Amcor 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.