Apollon Wealth Management LLC Takes Position in Amcor plc (NYSE:AMCR)

Apollon Wealth Management LLC bought a new position in Amcor plc (NYSE:AMCR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,276 shares of the company’s stock, valued at approximately $125,000.

Other hedge funds have also modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares during the last quarter. True Wealth Design LLC increased its position in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares in the last quarter. Signaturefd LLC lifted its position in shares of Amcor by 296.3% in the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after acquiring an additional 3,242 shares in the last quarter. Covestor Ltd lifted its position in shares of Amcor by 441.0% in the 3rd quarter. Covestor Ltd now owns 7,963 shares of the company’s stock valued at $90,000 after acquiring an additional 6,491 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Amcor during the 3rd quarter worth approximately $97,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on AMCR shares. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research report on Wednesday, December 11th. Finally, Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Amcor Trading Down 0.4 %

Shares of NYSE AMCR opened at $10.06 on Friday. The stock has a market cap of $14.53 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.92 and a beta of 0.84. The business has a 50 day simple moving average of $9.71 and a 200 day simple moving average of $10.43. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.26. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 earnings per share. On average, research analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.07%. Amcor’s dividend payout ratio (DPR) is currently 92.73%.

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.