123,929 Shares in Amcor PLC $AMCR Bought by Inceptionr LLC

Inceptionr LLC purchased a new position in Amcor PLC (NYSE:AMCR) during the 4th quarter, Holdings Channel.com reports. The firm purchased 123,929 shares of the company’s stock, valued at approximately $1,034,000.

A number of other hedge funds have also bought and sold shares of AMCR. Brown Lisle Cummings Inc. increased its position in Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares during the last quarter. Larson Financial Group LLC increased its position in Amcor by 46.1% during the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after acquiring an additional 1,257 shares during the last quarter. N.E.W. Advisory Services LLC increased its position in Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after acquiring an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in Amcor during the second quarter valued at $36,000. Finally, Huntington National Bank increased its position in Amcor by 81.8% during the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after acquiring an additional 2,020 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

AMCR has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective on the stock. Truist Financial reiterated a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. JPMorgan Chase & Co. cut their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, Citigroup cut their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.33.

Amcor Stock Down 1.5%

Shares of AMCR opened at $38.27 on Thursday. The firm has a market capitalization of $17.69 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.17 and a beta of 0.64. The firm has a fifty day moving average price of $39.30 and a 200-day moving average price of $42.04. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. 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 issued its earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period last year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 77.4% compared to the same quarter last year. Equities research analysts expect that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.8%. Amcor’s dividend payout ratio is 181.82%.

About Amcor

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.