MBB Public Markets I LLC Increases Position in Amcor plc (NYSE:AMCR)

MBB Public Markets I LLC lifted its holdings in Amcor plc (NYSE:AMCR) by 223.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 96,901 shares of the company’s stock after buying an additional 66,936 shares during the quarter. MBB Public Markets I LLC’s holdings in Amcor were worth $948,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMCR. Riverview Trust Co purchased a new stake in Amcor in the first quarter worth $28,000. Quent Capital LLC increased its stake in Amcor by 51.8% in the 2nd 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 period. EverSource Wealth Advisors LLC lifted its holdings in Amcor by 132.8% during the 1st 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. boosted its position in Amcor by 38.7% in the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after buying an additional 1,299 shares during the period. Finally, ORG Partners LLC bought a new position in Amcor in the 2nd quarter worth about $47,000. 45.14% of the stock is owned by institutional investors.

Amcor Price Performance

Shares of AMCR stock opened at $11.33 on Tuesday. The stock’s 50-day moving average is $10.86 and its 200 day moving average is $10.10. Amcor plc has a 1-year low of $8.45 and a 1-year high of $11.48. 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 company has a market cap of $16.38 billion, a P/E ratio of 25.18, a PEG ratio of 2.73 and a beta of 0.85.

Amcor (NYSE:AMCR) last posted its earnings results on Thursday, August 15th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the company posted $0.19 earnings per share. Amcor’s revenue for the quarter was down 3.8% compared to the same quarter last year. Research analysts predict that Amcor plc will post 0.75 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were paid a dividend of $0.125 per share. The ex-dividend date was Friday, September 6th. This represents a $0.50 annualized dividend and a yield of 4.41%. Amcor’s dividend payout ratio (DPR) is 111.11%.

Wall Street Analyst Weigh In

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

About Amcor

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.