Sunbelt Securities Inc. Raises Stock Position in Amcor plc (NYSE:AMCR)

Sunbelt Securities Inc. increased its position in Amcor plc (NYSE:AMCR) by 60.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,000 shares of the company’s stock after acquiring an additional 3,000 shares during the period. Sunbelt Securities Inc.’s holdings in Amcor were worth $78,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AMCR. Envestnet Portfolio Solutions Inc. lifted its stake in Amcor by 40.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 743,325 shares of the company’s stock valued at $7,069,000 after buying an additional 214,458 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Amcor by 244.2% during the first quarter. Empowered Funds LLC now owns 103,655 shares of the company’s stock valued at $986,000 after acquiring an additional 73,541 shares during the last quarter. M&G Plc increased its position in Amcor by 2,741.7% during the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after purchasing an additional 45,504,608 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its position in shares of Amcor by 60.0% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 601,225 shares of the company’s stock valued at $5,718,000 after buying an additional 225,441 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in Amcor by 236.1% in 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 acquiring an additional 1,157,878 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Price Performance

AMCR opened at $11.15 on Friday. The company has a 50 day moving average of $10.93 and a two-hundred day moving average of $10.13. Amcor plc has a 52-week low of $8.45 and a 52-week high of $11.48. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. The company has a market cap of $16.12 billion, a P/E ratio of 24.78, a P/E/G ratio of 2.73 and a beta of 0.85.

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

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.48%. The ex-dividend date was Friday, September 6th. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Analysts Set New Price Targets

AMCR has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Stifel Nicolaus initiated coverage on shares of Amcor in a research report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 target price on the stock. Citigroup boosted their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Wells Fargo & Company lifted their price target on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a report on Friday, August 16th. Finally, Robert W. Baird upped their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.73.

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.