NewEdge Wealth LLC Makes New $161,000 Investment in Amcor PLC $AMCR

NewEdge Wealth LLC bought a new stake in Amcor PLC (NYSE:AMCR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,341 shares of the company’s stock, valued at approximately $161,000.

Other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC acquired a new position in Amcor during the third quarter valued at approximately $27,000. Brown Lisle Cummings Inc. raised its position in Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares in the last quarter. N.E.W. Advisory Services LLC raised its position in Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after purchasing an additional 373 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in Amcor during the second quarter valued at approximately $36,000. Finally, Huntington National Bank raised its position in Amcor by 81.8% during the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after purchasing an additional 2,020 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

NYSE AMCR opened at $37.49 on Tuesday. The firm’s fifty day moving average price is $39.96 and its two-hundred day moving average price is $42.39. The stock has a market cap of $17.33 billion, a PE ratio of 26.22, a PEG ratio of 1.11 and a beta of 0.63. Amcor PLC has a fifty-two week low of $36.67 and a fifty-two week high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.96. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The company’s revenue was up 77.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. On average, equities analysts expect that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 6.9%. Amcor’s payout ratio is currently 181.82%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wells Fargo & Company downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $48.00 to $43.00 in a research report on Friday, March 20th. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, Robert W. Baird set a $54.00 target price on shares of Amcor in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.56.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.