18,712 Shares in Amcor plc (NYSE:AMCR) Acquired by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC bought a new stake in Amcor plc (NYSE:AMCR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 18,712 shares of the company’s stock, valued at approximately $183,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in Amcor in the first quarter valued at approximately $28,000. Quent Capital LLC boosted its holdings in shares of Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after buying an additional 1,241 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Amcor by 132.8% in 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 during the last quarter. UMB Bank n.a. raised 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 in the last quarter. Finally, ORG Partners LLC purchased a new stake in Amcor in the second quarter valued at $47,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Amcor Trading Up 0.3 %

NYSE:AMCR opened at $11.02 on Thursday. Amcor plc has a 12-month low of $8.45 and a 12-month high of $11.45. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The stock’s 50 day simple moving average is $10.69 and its 200-day simple moving average is $10.00. The firm has a market cap of $15.93 billion, a P/E ratio of 24.49, a PEG 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 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company posted $0.19 EPS. Amcor’s revenue was down 3.8% compared to the same quarter last year. Equities analysts anticipate that Amcor plc will post 0.75 EPS for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Friday, September 6th. Amcor’s dividend 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.