24,712 Shares in Amcor PLC $AMCR Acquired by Strategic Investment Advisors MI

Strategic Investment Advisors MI acquired a new stake in shares of Amcor PLC (NYSE:AMCR) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 24,712 shares of the company’s stock, valued at approximately $982,000.

Other large investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in Amcor by 1.7% in the fourth quarter. State Street Corp now owns 141,509,581 shares of the company’s stock worth $1,180,190,000 after purchasing an additional 2,432,340 shares during the period. M&G PLC boosted its position in shares of Amcor by 6.1% during the fourth quarter. M&G PLC now owns 114,989,595 shares of the company’s stock worth $919,917,000 after purchasing an additional 6,655,611 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after buying an additional 1,845,627 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Amcor by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock valued at $701,356,000 after buying an additional 2,036,667 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Amcor by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock valued at $533,487,000 after buying an additional 262,418 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

AMCR stock opened at $45.20 on Friday. The stock has a 50-day moving average price of $41.76 and a two-hundred day moving average price of $42.31. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The stock has a market cap of $20.90 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 1.44 and a beta of 0.62. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. Amcor’s revenue for the quarter was up 77.4% compared to the same quarter last year. Equities analysts forecast that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were issued a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.8%. Amcor’s dividend payout ratio (DPR) is 181.82%.

Wall Street Analyst Weigh In

Several analysts recently commented on AMCR shares. BMO Capital Markets began coverage on Amcor in a research note on Thursday, July 16th. They set a “market perform” rating and a $47.00 price objective on the stock. Truist Financial reissued a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup cut their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Wells Fargo & Company set a $43.00 price objective on Amcor and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and an average price target of $48.08.

Amcor Profile

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.