HB Wealth Management LLC Buys 3,388 Shares of Amcor plc (NYSE:AMCR)

HB Wealth Management LLC boosted its holdings in Amcor plc (NYSE:AMCRFree Report) by 9.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,834 shares of the company’s stock after purchasing an additional 3,388 shares during the quarter. HB Wealth Management LLC’s holdings in Amcor were worth $369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Riverview Trust Co bought a new stake in shares of Amcor in the 1st quarter worth approximately $28,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Amcor during the fourth quarter valued at $40,000. Sunbelt Securities Inc. bought a new position in Amcor in the third quarter valued at about $46,000. MV Capital Management Inc. boosted its position in Amcor by 33.7% in the fourth quarter. MV Capital Management Inc. now owns 5,193 shares of the company’s stock worth $50,000 after purchasing an additional 1,310 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Amcor by 461.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 5,542 shares of the company’s stock valued at $53,000 after purchasing an additional 4,555 shares during the period. Institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company started coverage on shares of Amcor in a research note on Friday, June 28th. They issued an “equal weight” rating and a $9.80 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.93.

View Our Latest Analysis on AMCR

Amcor Price Performance

Shares of NYSE:AMCR traded down $0.15 during mid-day trading on Friday, reaching $9.47. The stock had a trading volume of 4,811,746 shares, compared to its average volume of 8,489,266. The business’s 50 day moving average price is $9.94 and its 200 day moving average price is $9.55. Amcor plc has a 1 year low of $8.45 and a 1 year high of $10.51. The company has a market cap of $13.69 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 4.96 and a beta of 0.86. The company has a current ratio of 1.29, a quick ratio of 0.75 and a debt-to-equity ratio of 1.76.

Amcor (NYSE:AMCRGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.49 billion. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. Research analysts expect that Amcor plc will post 0.7 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date was Tuesday, May 21st. Amcor’s dividend payout ratio is currently 111.11%.

About Amcor

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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