Silicon Valley Capital Partners Makes New $7.44 Million Investment in Amcor PLC $AMCR

Silicon Valley Capital Partners acquired a new stake in shares of Amcor PLC (NYSE:AMCR) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 187,144 shares of the company’s stock, valued at approximately $7,439,000.

Several other hedge funds have also recently modified their holdings of AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Amcor by 8.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock valued at $2,596,000 after purchasing an additional 20,757 shares in the last quarter. Focus Partners Wealth raised its position in shares of Amcor by 11.3% during the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock valued at $418,000 after buying an additional 4,396 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Amcor during the 2nd quarter valued at about $138,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Amcor in the 2nd quarter valued at about $6,426,000. Finally, CW Advisors LLC bought a new position in shares of Amcor in the 2nd quarter valued at about $228,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup decreased their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company set a $43.00 price target on Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. BMO Capital Markets initiated coverage on shares of Amcor in a research note on Thursday, July 16th. They set a “market perform” rating and a $47.00 price objective for the company. 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. Finally, Bank of America increased their target price on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.08.

Amcor Stock Performance

Shares of Amcor stock opened at $45.20 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The stock’s fifty day moving average is $41.76 and its two-hundred day moving average is $42.31. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The company has a market capitalization 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.

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

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were given a dividend of $0.65 per share. The ex-dividend date of this dividend 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%.

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.