Stephens Inc. AR Buys 387,913 Shares of Amcor PLC (NYSE:AMCR)

Stephens Inc. AR raised its position in Amcor PLC (NYSE:AMCR - Free Report) by 1,206.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 420,060 shares of the company's stock after acquiring an additional 387,913 shares during the quarter. Stephens Inc. AR's holdings in Amcor were worth $4,075,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. boosted its stake in shares of Amcor by 18,725.0% during the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock valued at $29,000 after purchasing an additional 2,996 shares in the last quarter. HM Payson & Co. purchased a new position in shares of Amcor during the 1st quarter worth approximately $30,000. CVA Family Office LLC grew its holdings in shares of Amcor by 234.1% during the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock worth $32,000 after acquiring an additional 2,280 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock worth $35,000 after acquiring an additional 2,660 shares during the period. Finally, Quarry LP grew its holdings in shares of Amcor by 2,064.5% during the 4th quarter. Quarry LP now owns 3,723 shares of the company's stock worth $35,000 after acquiring an additional 3,551 shares during the period. Hedge funds and other institutional investors own 45.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMCR. Wells Fargo & Company began coverage on Amcor in a report on Thursday, June 26th. They set an "overweight" rating and a $10.00 target price on the stock. Jefferies Financial Group assumed coverage on Amcor in a report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 target price on the stock. Raymond James Financial assumed coverage on shares of Amcor in a research note on Tuesday, April 22nd. They set a "market perform" rating for the company. Truist Financial set a $11.00 target price on shares of Amcor and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $11.37.

Amcor Stock Performance

AMCR stock traded down $0.06 on Friday, hitting $9.46. The company had a trading volume of 9,198,372 shares, compared to its average volume of 21,200,955. Amcor PLC has a 12-month low of $8.37 and a 12-month high of $11.48. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 2.24. The stock's 50-day simple moving average is $9.27 and its 200 day simple moving average is $9.53. The stock has a market cap of $13.67 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 1.21 and a beta of 0.73.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Amcor had a net margin of 5.99% and a return on equity of 26.49%. The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period last year, the firm earned $0.13 earnings per share. The company's quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts expect that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were given a dividend of $0.1275 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 annualized dividend and a dividend yield of 5.39%. Amcor's payout ratio is 91.07%.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.