Diversify Wealth Management LLC Raises Holdings in Amcor plc (NYSE:AMCR)

Diversify Wealth Management LLC increased its holdings in Amcor plc (NYSE:AMCR) by 15.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 158,270 shares of the company’s stock after purchasing an additional 21,576 shares during the quarter. Diversify Wealth Management LLC’s holdings in Amcor were worth $1,747,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in Amcor in the third quarter worth approximately $35,000. ORG Wealth Partners LLC purchased a new position in Amcor in the third quarter worth approximately $35,000. Quent Capital LLC grew its position in Amcor by 51.8% in the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after acquiring an additional 1,241 shares during the period. Signaturefd LLC grew its position in Amcor by 296.3% in the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after acquiring an additional 3,242 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Amcor by 132.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after acquiring an additional 2,519 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMCR has been the subject of several analyst reports. Stifel Nicolaus initiated coverage on Amcor in a research report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price objective for the company. Wells Fargo & Company raised their price target on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. raised their price target on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Citigroup raised their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Robert W. Baird raised their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Amcor presently has a consensus rating of “Hold” and an average target price of $10.78.

Amcor Stock Up 1.3 %

Shares of NYSE AMCR opened at $11.07 on Thursday. The stock has a market cap of $16.00 billion, a P/E ratio of 24.60, a PEG ratio of 2.72 and a beta of 0.85. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. Amcor plc has a 12-month low of $8.59 and a 12-month high of $11.48. The business’s fifty day simple moving average is $11.15 and its 200-day simple moving average is $10.39.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The business had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period last year, the firm earned $0.19 earnings per share. As a group, equities analysts predict that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 6th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Friday, September 6th. Amcor’s payout ratio is currently 111.11%.

Amcor Company 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.