SVB Wealth LLC Boosts Stake in Amcor PLC $AMCR

SVB Wealth LLC increased its stake in shares of Amcor PLC (NYSE:AMCR) by 64.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,913 shares of the company’s stock after buying an additional 101,983 shares during the quarter. SVB Wealth LLC’s holdings in Amcor were worth $2,398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewSquare Capital LLC boosted its holdings in shares of Amcor by 377.9% in the 2nd quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock valued at $26,000 after acquiring an additional 2,222 shares during the last quarter. AdvisorNet Financial Inc grew its position in Amcor by 839.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock worth $28,000 after purchasing an additional 2,704 shares during the period. Adirondack Trust Co. acquired a new stake in Amcor during the 2nd quarter worth about $29,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Amcor in the 2nd quarter valued at about $33,000. Finally, LSV Asset Management purchased a new stake in shares of Amcor in the second quarter worth about $37,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 0.7%

Shares of Amcor stock opened at $8.25 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.04 and a quick ratio of 0.62. The stock’s 50 day simple moving average is $8.24 and its 200-day simple moving average is $8.75. The stock has a market cap of $19.01 billion, a P/E ratio of 24.25, a P/E/G ratio of 0.82 and a beta of 0.68. Amcor PLC has a 1-year low of $7.66 and a 1-year high of $10.47.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Amcor had a return on equity of 17.35% and a net margin of 3.34%.The firm’s revenue for the quarter was up 71.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. Analysts predict that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Friday, November 28th will be given a dividend of $0.13 per share. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Friday, November 28th. Amcor’s dividend payout ratio (DPR) is 152.94%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMCR. Stifel Nicolaus raised shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 target price on the stock in a research note on Friday, October 10th. Royal Bank Of Canada started coverage on Amcor in a research note on Monday, September 22nd. They set a “sector perform” rating for the company. Robert W. Baird cut their price target on shares of Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, August 15th. JPMorgan Chase & Co. began coverage on shares of Amcor in a report on Friday, September 19th. They set an “overweight” rating and a $10.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Amcor in a research report on Wednesday, September 10th. They set a “buy” rating for the company. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $10.91.

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.