Legacy Financial Advisors Inc. Invests $218,000 in Amcor plc (NYSE:AMCR)

Legacy Financial Advisors Inc. acquired a new stake in shares of Amcor plc (NYSE:AMCR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,274 shares of the company’s stock, valued at approximately $218,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in shares of Amcor during the 1st quarter worth $28,000. Quent Capital LLC increased its position in Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after buying an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Amcor by 132.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after buying an additional 2,519 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Amcor by 38.7% in the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after buying an additional 1,299 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of Amcor in the second quarter worth about $47,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AMCR shares. Citigroup raised their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Stifel Nicolaus began coverage on shares of Amcor in a report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective for the company. Robert W. Baird raised their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Wells Fargo & Company boosted their target price on shares of Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. upped their price target on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.73.

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.90 on Monday. The firm has a market capitalization of $15.75 billion, a PE ratio of 24.22, a PEG ratio of 2.68 and a beta of 0.85. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. Amcor plc has a 1-year low of $8.45 and a 1-year high of $11.45. The business’s 50 day moving average is $10.73 and its 200-day moving average is $10.03.

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

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 6th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.59%. The ex-dividend date is Friday, September 6th. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

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.