Amcor plc (NYSE:AMCR) Shares Purchased by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC grew its holdings in shares of Amcor plc (NYSE:AMCR) by 31.5% in the second quarter, HoldingsChannel reports. The fund owned 19,003 shares of the company’s stock after buying an additional 4,550 shares during the period. HBK Sorce Advisory LLC’s holdings in Amcor were worth $186,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Riverview Trust Co bought a new stake in shares of Amcor during the first quarter valued at about $28,000. Quent Capital LLC raised its position in shares of Amcor by 51.8% during 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 in the last quarter. EverSource Wealth Advisors LLC lifted its stake 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 worth $39,000 after acquiring an additional 2,519 shares during the period. UMB Bank n.a. boosted its holdings 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 valued at $46,000 after acquiring an additional 1,299 shares in the last quarter. Finally, ORG Partners LLC bought a new position in shares of Amcor in the second quarter valued at approximately $47,000. Institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

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

Amcor Trading Up 1.0 %

Shares of NYSE AMCR opened at $10.99 on Monday. The business has a fifty day simple moving average of $10.60 and a 200-day simple moving average of $9.96. The company has a market cap of $15.88 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 2.68 and a beta of 0.85. Amcor plc has a 12 month low of $8.45 and a 12 month high of $11.45. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67.

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

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Friday, September 6th. Amcor’s dividend payout ratio (DPR) is currently 111.11%.

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.