Summitry LLC Invests $152,000 in Amcor PLC $AMCR

Summitry LLC bought a new position in Amcor PLC (NYSE:AMCR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,247 shares of the company’s stock, valued at approximately $152,000.

Several other hedge funds and other institutional investors also recently modified their holdings of AMCR. Brown Lisle Cummings Inc. increased its position 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 purchasing an additional 2,000 shares during the last quarter. Larson Financial Group LLC increased its position 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 purchasing an additional 1,257 shares during the last quarter. N.E.W. Advisory Services LLC increased its position 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 purchasing an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Amcor in the 2nd quarter worth about $36,000. Finally, Huntington National Bank increased its position in shares of Amcor by 81.8% in the 3rd quarter. Huntington National Bank now owns 4,490 shares of the company’s stock worth $37,000 after purchasing an additional 2,020 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE:AMCR opened at $39.65 on Thursday. 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 PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The firm has a 50-day simple moving average of $39.50 and a 200 day simple moving average of $42.31. The company has a market cap of $18.33 billion, a PE ratio of 27.73, a P/E/G ratio of 1.18 and a beta of 0.63.

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

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Thursday, May 28th. Amcor’s payout ratio is presently 181.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company set a $41.00 price objective on shares of Amcor and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. Citigroup lowered their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Truist Financial reaffirmed 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. Morgan Stanley downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective for the company. in a research report on Wednesday, January 28th. Finally, Robert W. Baird set a $54.00 price objective on shares of Amcor in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

Amcor Profile

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.