MV Capital Management Inc. Purchases 3,718 Shares of Amcor plc (NYSE:AMCR)

MV Capital Management Inc. increased its position in Amcor plc (NYSE:AMCR) by 71.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,911 shares of the company’s stock after acquiring an additional 3,718 shares during the quarter. MV Capital Management Inc.’s holdings in Amcor were worth $85,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverview Trust Co bought a new stake in Amcor in the 1st quarter valued at $28,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Amcor during the fourth quarter valued at about $40,000. Sunbelt Securities Inc. bought a new stake in shares of Amcor in the third quarter valued at about $46,000. Massmutual Trust Co. FSB ADV increased its stake in Amcor by 461.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 5,542 shares of the company’s stock valued at $53,000 after acquiring an additional 4,555 shares during the period. Finally, Eagle Bay Advisors LLC increased its stake in Amcor by 55.5% during the fourth quarter. Eagle Bay Advisors LLC now owns 7,787 shares of the company’s stock valued at $75,000 after acquiring an additional 2,779 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on Amcor in a report on Friday, June 28th. They set an “equal weight” rating and a $9.80 price objective on the stock. JPMorgan Chase & Co. lifted their price target on shares of Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Amcor has a consensus rating of “Hold” and an average price target of $9.93.

Amcor Price Performance

NYSE AMCR opened at $9.60 on Wednesday. Amcor plc has a 1-year low of $8.45 and a 1-year high of $10.51. The company has a market capitalization of $13.88 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 5.33 and a beta of 0.86. The stock’s 50 day moving average is $9.91 and its two-hundred day moving average is $9.55. The company has a current ratio of 1.29, a quick ratio of 0.75 and a debt-to-equity ratio of 1.76.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, April 30th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.49 billion. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 EPS. Equities analysts forecast that Amcor plc will post 0.7 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently announced 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 5.21%. The ex-dividend date was Tuesday, May 21st. Amcor’s dividend payout ratio (DPR) is currently 111.11%.

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.