Envestnet Portfolio Solutions Inc. Increases Position in Amcor plc (NYSE:AMCR)

Envestnet Portfolio Solutions Inc. increased its holdings in Amcor plc (NYSE:AMCR) by 40.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 743,325 shares of the company’s stock after acquiring an additional 214,458 shares during the period. Envestnet Portfolio Solutions Inc. owned about 0.05% of Amcor worth $7,069,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Riverview Trust Co purchased a new position in Amcor in the first quarter valued at approximately $28,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Amcor during the 4th quarter worth $40,000. Sunbelt Securities Inc. bought a new stake in Amcor in the 3rd quarter valued at about $46,000. MV Capital Management Inc. lifted its holdings in Amcor by 33.7% during the fourth quarter. MV Capital Management Inc. now owns 5,193 shares of the company’s stock valued at $50,000 after purchasing an additional 1,310 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Amcor by 461.5% in the fourth 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. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Trading Up 1.0 %

Shares of AMCR stock traded up $0.10 during mid-day trading on Friday, reaching $9.91. The stock had a trading volume of 9,345,258 shares, compared to its average volume of 8,598,826. The company has a current ratio of 1.29, a quick ratio of 0.75 and a debt-to-equity ratio of 1.76. The stock’s 50-day moving average price is $9.98 and its two-hundred day moving average price is $9.55. The firm has a market capitalization of $14.32 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 5.02 and a beta of 0.86. Amcor plc has a 52-week low of $8.45 and a 52-week high of $10.51.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same quarter last year, the firm posted $0.18 earnings per share. The firm’s revenue was down 7.0% on a year-over-year basis. Equities analysts expect that Amcor plc will post 0.7 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 5.05%. The ex-dividend date was Tuesday, May 21st. Amcor’s dividend payout ratio is currently 111.11%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMCR. Stifel Nicolaus began coverage on shares of Amcor in a report on Tuesday. They issued a “hold” rating and a $10.80 price objective for the company. JPMorgan Chase & Co. lifted their price target on Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company assumed coverage on Amcor in a research note on Friday, June 28th. They issued an “equal weight” rating and a $9.80 target price for the company. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.15.

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.