Keudell Morrison Wealth Management Has $484,000 Position in Amcor PLC $AMCR

Keudell Morrison Wealth Management lessened its holdings in shares of Amcor PLC (NYSE:AMCR) by 73.5% in the first quarter, HoldingsChannel.com reports. The firm owned 12,181 shares of the company’s stock after selling 33,785 shares during the period. Keudell Morrison Wealth Management’s holdings in Amcor were worth $484,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. AdvisorNet Financial Inc bought a new position in shares of Amcor in the first quarter valued at $25,000. DV Equities LLC bought a new stake in shares of Amcor during the fourth quarter worth about $27,000. Brown Lisle Cummings Inc. raised its holdings in shares of Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after acquiring an additional 2,000 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after acquiring an additional 1,257 shares during the last quarter. Finally, N.E.W. Advisory Services LLC raised its holdings in shares of Amcor by 10.1% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after acquiring an additional 373 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on AMCR. Citigroup cut their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. JPMorgan Chase & Co. lowered their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company set a $41.00 target price on Amcor and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price on the stock. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and an average price target of $49.33.

Amcor Price Performance

Amcor stock opened at $40.53 on Wednesday. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The company’s 50 day moving average price is $39.35 and its two-hundred day moving average price is $41.92. The stock has a market cap of $18.74 billion, a P/E ratio of 28.34, a P/E/G ratio of 1.23 and a beta of 0.64. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30.

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

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were given a $0.65 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.4%. Amcor’s payout ratio is currently 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.