SteelPeak Wealth LLC Buys 20,164 Shares of Amcor PLC $AMCR

SteelPeak Wealth LLC acquired a new stake in Amcor PLC (NYSE:AMCR) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 20,164 shares of the company’s stock, valued at approximately $844,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new position in Amcor in the 2nd quarter worth $90,556,000. Rubric Capital Management LP purchased a new stake in Amcor during the 1st quarter valued at about $50,458,000. Ancora Advisors LLC bought a new stake in shares of Amcor during the second quarter valued at approximately $39,470,000. Hsbc Holdings PLC boosted its stake in Amcor by 1,620.5% during the 1st quarter. Hsbc Holdings PLC now owns 672,649 shares of the company’s stock valued at $26,592,000 after purchasing an additional 633,554 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in Amcor during the 1st quarter valued at $19,343,000. Institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AMCR. Wells Fargo & Company lifted their target price on Amcor from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Jefferies Financial Group set a $44.92 price target on Amcor and gave the company a “hold” rating in a report on Tuesday, July 21st. Truist Financial set a $51.00 price objective on Amcor in a research report on Tuesday, August 18th. Citigroup reiterated a “buy” rating and issued a $52.00 price objective (up from $47.00) on shares of Amcor in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $47.00 target price (up from $44.00) on shares of Amcor in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.36.

Amcor Price Performance

NYSE AMCR opened at $44.03 on Tuesday. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The firm has a market capitalization of $20.36 billion, a P/E ratio of 10.96, a PEG ratio of 2.72 and a beta of 0.58. The company has a quick ratio of 0.76, a current ratio of 1.25 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average price of $44.10 and a 200-day moving average price of $42.31.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, August 13th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.04. The firm had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $6.05 billion. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 EPS. Equities research analysts anticipate that Amcor PLC will post 1.84 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Friday, September 4th were given a $0.65 dividend. The ex-dividend date was Friday, September 4th. This represents a $2.60 annualized dividend and a yield of 5.9%. Amcor’s dividend payout ratio (DPR) is presently 110.17%.

About Amcor

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging solutions for food, beverage, pharmaceutical, medical, personal care, household, and other consumer and industrial products. Its offerings include flexible packaging, rigid containers, closures, bottles, specialty cartons, and related packaging systems designed to protect products, support supply chains, and improve convenience and sustainability.

The company serves customers across North America, Latin America, Europe, Asia-Pacific, and other international markets.