Benjamin Edwards Inc. Purchases Shares of 44,810 Amcor plc (NYSE:AMCR)

Benjamin Edwards Inc. acquired a new position in Amcor plc (NYSE:AMCR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 44,810 shares of the company’s stock, valued at approximately $508,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMCR. Larson Financial Group LLC grew its position in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares during the period. Rise Advisors LLC bought a new stake in Amcor during the third quarter valued at about $35,000. ORG Wealth Partners LLC purchased a new stake in Amcor in the third quarter worth about $35,000. True Wealth Design LLC raised its stake 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 buying an additional 3,225 shares during the period. Finally, Signaturefd LLC lifted its position in shares of Amcor by 296.3% during the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after buying an additional 3,242 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

NYSE:AMCR opened at $10.18 on Monday. The business’s 50-day moving average is $10.72 and its 200 day moving average is $10.52. Amcor plc has a 12 month low of $8.78 and a 12 month high of $11.48. The company has a market capitalization of $14.71 billion, a P/E ratio of 19.21, a P/E/G ratio of 1.89 and a beta of 0.82. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the firm earned $0.16 EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities research analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be issued a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.01%. Amcor’s payout ratio is 96.23%.

Analysts Set New Price Targets

A number of research firms have commented on AMCR. JPMorgan Chase & Co. raised their target price 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. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company boosted their price objective on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Robert W. Baird increased their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Finally, Citigroup boosted their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Amcor currently has a consensus rating of “Hold” and a consensus target price of $10.94.

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.