Legacy Financial Advisors Inc. Invests $218,000 in Amcor plc (NYSE:AMCR)

Legacy Financial Advisors Inc. bought a new position in shares of Amcor plc (NYSE:AMCR) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 22,274 shares of the company’s stock, valued at approximately $218,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of Amcor in the first quarter valued at approximately $28,000. Quent Capital LLC increased its holdings in Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after purchasing an additional 1,241 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in 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 purchasing an additional 2,519 shares during the last quarter. UMB Bank n.a. boosted its stake in Amcor by 38.7% in the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after purchasing an additional 1,299 shares in the last quarter. Finally, ORG Partners LLC bought a new stake in shares of Amcor during the second quarter worth $47,000. 45.14% of the stock is owned by institutional investors.

Amcor Trading Down 1.9 %

Shares of NYSE AMCR opened at $10.90 on Monday. The company’s 50 day simple moving average is $10.73 and its 200 day simple moving average is $10.03. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $11.45. The firm has a market capitalization of $15.75 billion, a P/E ratio of 24.22, a P/E/G ratio of 2.68 and a beta of 0.85.

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

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 6th will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.59%. Amcor’s dividend payout ratio is 111.11%.

Wall Street Analyst Weigh In

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

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.