Avidian Wealth Enterprises LLC Makes New Investment in Amcor PLC (NYSE:AMCR)

Avidian Wealth Enterprises LLC acquired a new stake in shares of Amcor PLC (NYSE:AMCR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 31,959 shares of the company's stock, valued at approximately $310,000.

Several other large investors also recently bought and sold shares of the business. UMB Bank n.a. raised its holdings in shares of Amcor by 20.0% during the 1st quarter. UMB Bank n.a. now owns 6,386 shares of the company's stock worth $62,000 after acquiring an additional 1,066 shares during the period. Virtue Capital Management LLC increased its position in Amcor by 2.8% during the fourth quarter. Virtue Capital Management LLC now owns 45,924 shares of the company's stock worth $432,000 after purchasing an additional 1,259 shares during the last quarter. Utah Retirement Systems increased its position in Amcor by 1.1% during the fourth quarter. Utah Retirement Systems now owns 120,076 shares of the company's stock worth $1,130,000 after purchasing an additional 1,300 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Amcor by 0.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 157,588 shares of the company's stock worth $1,529,000 after purchasing an additional 1,477 shares during the period. Finally, New York Life Investment Management LLC boosted its holdings in Amcor by 0.8% in the 4th quarter. New York Life Investment Management LLC now owns 195,714 shares of the company's stock valued at $1,842,000 after purchasing an additional 1,507 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Trading Down 1.3%

Shares of NYSE AMCR traded down $0.13 during trading on Friday, reaching $9.57. The stock had a trading volume of 20,324,793 shares, compared to its average volume of 20,886,255. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70. The company has a market cap of $13.82 billion, a P/E ratio of 17.08, a PEG ratio of 2.33 and a beta of 0.73. Amcor PLC has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The business's 50-day moving average price is $9.20 and its 200-day moving average price is $9.51.

Amcor (NYSE:AMCR - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. Amcor had a return on equity of 26.49% and a net margin of 5.99%. Amcor's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 EPS. On average, equities research analysts predict that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.33%. The ex-dividend date was Thursday, May 22nd. Amcor's payout ratio is currently 91.07%.

Analysts Set New Price Targets

AMCR has been the subject of a number of recent analyst reports. Raymond James Financial assumed coverage on shares of Amcor in a report on Tuesday, April 22nd. They set a "market perform" rating for the company. Jefferies Financial Group assumed coverage on Amcor in a research note on Wednesday. They set a "buy" rating and a $12.00 target price for the company. Truist Financial reduced their target price on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company started coverage on Amcor in a report on Thursday, June 26th. They set an "overweight" rating and a $10.00 price target for the company. Finally, UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $11.30.

Amcor 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.