McIlrath & Eck LLC Buys Shares of 13,734 Amcor PLC $AMCR

McIlrath & Eck LLC purchased a new stake in shares of Amcor PLC (NYSE:AMCR) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 13,734 shares of the company’s stock, valued at approximately $546,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its holdings in Amcor by 1.7% in the fourth quarter. State Street Corp now owns 141,509,581 shares of the company’s stock valued at $1,180,190,000 after acquiring an additional 2,432,340 shares during the period. M&G PLC boosted its position in Amcor by 6.1% in the fourth quarter. M&G PLC now owns 114,989,595 shares of the company’s stock worth $919,917,000 after purchasing an additional 6,655,611 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Amcor by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after purchasing an additional 1,845,627 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Amcor by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock valued at $701,356,000 after purchasing an additional 2,036,667 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Amcor by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock valued at $533,487,000 after purchasing an additional 262,418 shares during the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Stock Performance

Shares of NYSE AMCR opened at $45.20 on Friday. The stock has a market cap 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 PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The firm has a fifty day moving average price of $41.76 and a 200-day moving average price of $42.31. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.96. The company 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%. Amcor’s revenue for the quarter was up 77.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 EPS. Equities analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Thursday, May 28th. Amcor’s payout ratio is presently 181.82%.

Wall Street Analyst Weigh In

AMCR has been the topic of a number of research reports. Bank of America raised their price objective on shares of Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Jefferies Financial Group set a $44.92 target price on shares of Amcor and gave the company a “hold” rating in a report on Tuesday, July 21st. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. BMO Capital Markets assumed coverage on shares of Amcor in a research note on Thursday, July 16th. They set a “market perform” rating and a $47.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.08.

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.