Amcor PLC $AMCR Shares Acquired by Silicon Valley Capital Partners

Key Points

• Silicon Valley Capital Partners increased its Amcor stake by 27% in the second quarter, acquiring 50,510 additional shares for a total of 237,654 shares valued at approximately $10.3 million. Institutional investors collectively own 45.14% of Amcor.
• Amcor reported quarterly EPS of $1.23, exceeding estimates by $0.04, while revenue reached $6.40 billion, up 25.9% year over year and above expectations.
• The company declared a quarterly dividend of $0.65 per share, representing a 6.2% yield, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $49.49.

Silicon Valley Capital Partners increased its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 27.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,654 shares of the company's stock after buying an additional 50,510 shares during the period. Silicon Valley Capital Partners owned about 0.05% of Amcor worth $10,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in AMCR. Brown Financial Advisors raised its position in Amcor by 3.9% during the second quarter. Brown Financial Advisors now owns 6,287 shares of the company's stock worth $273,000 after acquiring an additional 237 shares during the period. CYBER HORNET ETFs LLC increased its stake in shares of Amcor by 11.1% during the fourth quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company's stock worth $37,000 after purchasing an additional 447 shares in the last quarter. FNY Investment Advisers LLC raised its position in shares of Amcor by 16.1% during the 2nd quarter. FNY Investment Advisers LLC now owns 3,600 shares of the company's stock worth $156,000 after purchasing an additional 500 shares during the last quarter. Van Hulzen Asset Management LLC lifted its stake in Amcor by 6.7% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 8,005 shares of the company's stock valued at $347,000 after buying an additional 500 shares in the last quarter. Finally, Bangor Savings Bank purchased a new position in Amcor in the 2nd quarter valued at about $26,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Trading Up 0.5%

Amcor stock traded up $0.23 during trading on Monday, reaching $42.13. 3,125,612 shares of the company were exchanged, compared to its average volume of 4,736,253. 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 $19.48 billion, a P/E ratio of 17.85, a PEG ratio of 2.29 and a beta of 0.60. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.25 and a quick ratio of 0.76. The stock's 50 day simple moving average is $45.23 and its two-hundred day simple moving average is $42.11.

Amcor (NYSE:AMCR - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.04. Amcor had a return on equity of 15.92% and a net margin of 4.71%.The company had revenue of $6.40 billion during the quarter, compared to analysts' expectations of $6.05 billion. During the same period in the prior year, the business earned $0.20 EPS. The firm's quarterly revenue was up 25.9% on a year-over-year basis. On average, equities research analysts expect that Amcor PLC will post 1.84 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, September 4th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 6.2%. The ex-dividend date is Friday, September 4th. Amcor's dividend payout ratio (DPR) is presently 110.17%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Citigroup restated a "buy" rating and issued a $52.00 target price (up from $47.00) on shares of Amcor in a research report on Friday, August 14th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $47.00 price target (up from $44.00) on shares of Amcor in a research report on Monday, August 17th. UBS Group started coverage on Amcor in a research note on Tuesday, August 11th. They issued a "buy" rating and a $56.00 price objective for the company. BMO Capital Markets initiated coverage on Amcor in a report on Thursday, July 16th. They issued a "market perform" rating and a $47.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Amcor from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Amcor presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.49.

Amcor Profile

Amcor plc NYSE: AMCR is a global packaging company that develops and manufactures packaging products for the food, beverage, pharmaceutical, medical, personal care, household and other consumer and industrial markets. Its portfolio is designed to help protect products, extend shelf life, support transportation and improve convenience and sustainability.

The company produces flexible packaging, including films, pouches, bags, lidding and specialty laminates, as well as rigid packaging such as bottles, containers, closures and other molded products.

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