CreativeOne Wealth LLC Invests $747,000 in Amcor plc (NYSE:AMCR)

CreativeOne Wealth LLC purchased a new stake in shares of Amcor plc (NYSE:AMCR) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 78,490 shares of the company’s stock, valued at approximately $747,000.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in shares of Amcor in the 4th quarter valued at about $155,438,000. Norges Bank acquired a new position in Amcor in the 4th quarter valued at approximately $47,669,000. M&G Plc acquired a new position in Amcor in the 1st quarter valued at approximately $16,598,000. Vanguard Group Inc. lifted its position in Amcor by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after buying an additional 1,170,986 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Amcor by 236.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,648,279 shares of the company’s stock valued at $15,675,000 after buying an additional 1,157,878 shares during the period. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Up 2.3 %

NYSE:AMCR traded up $0.23 during trading hours on Friday, reaching $10.38. The company’s stock had a trading volume of 12,411,796 shares, compared to its average volume of 10,087,446. Amcor plc has a one year low of $8.45 and a one year high of $10.51. The business’s 50-day moving average is $9.95 and its 200-day moving average is $9.58. The company has a market cap of $15.00 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 4.48 and a beta of 0.86. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.29 and a quick ratio of 0.75.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the previous year, the business posted $0.18 EPS. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities research analysts predict that Amcor plc will post 0.7 EPS for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Tuesday, May 21st. Amcor’s dividend payout ratio is 111.11%.

Wall Street Analyst Weigh In

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