Bleakley Financial Group LLC Purchases 4,126 Shares of Amcor plc (NYSE:AMCR)

Bleakley Financial Group LLC lifted its position in Amcor plc (NYSE:AMCR) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,022 shares of the company’s stock after buying an additional 4,126 shares during the quarter. Bleakley Financial Group LLC’s holdings in Amcor were worth $561,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AMCR. Riverview Trust Co acquired a new stake in Amcor during the 1st quarter valued at $28,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Amcor during the 4th quarter valued at $40,000. MV Capital Management Inc. lifted its holdings in Amcor by 33.7% during the 4th 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. Eagle Bay Advisors LLC lifted its holdings in Amcor by 55.5% during the 4th quarter. Eagle Bay Advisors LLC now owns 7,787 shares of the company’s stock valued at $75,000 after purchasing an additional 2,779 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in Amcor by 17.0% during the 4th quarter. Global Retirement Partners LLC now owns 8,397 shares of the company’s stock valued at $80,000 after purchasing an additional 1,222 shares during the last quarter. 45.14% of the stock is owned by institutional investors.

Amcor Price Performance

Shares of AMCR stock opened at $10.32 on Friday. The firm has a market cap of $14.92 billion, a P/E ratio of 22.93, a P/E/G ratio of 4.56 and a beta of 0.86. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $10.51. The business’s 50 day moving average price is $9.97 and its 200-day moving average price is $9.56. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29.

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

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.84%. The ex-dividend date was Tuesday, May 21st. Amcor’s dividend payout ratio is currently 111.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMCR shares. Wells Fargo & Company initiated coverage on Amcor in a report on Friday, June 28th. They set an “equal weight” rating and a $9.80 target price for the company. Stifel Nicolaus initiated coverage on Amcor in a report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.15.

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.