Diversify Wealth Management LLC Grows Stock Position in Amcor PLC (NYSE:AMCR)

Diversify Wealth Management LLC increased its holdings in Amcor PLC (NYSE:AMCR - Free Report) by 27.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 407,031 shares of the company's stock after purchasing an additional 88,182 shares during the period. Diversify Wealth Management LLC's holdings in Amcor were worth $3,798,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AMCR. Rakuten Securities Inc. boosted its position in shares of Amcor by 18,725.0% during the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after purchasing an additional 2,996 shares in the last quarter. HM Payson & Co. acquired a new stake in shares of Amcor during the 1st quarter worth approximately $30,000. CVA Family Office LLC boosted its position in Amcor by 234.1% in the first quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after buying an additional 2,280 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Amcor by 247.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock worth $35,000 after purchasing an additional 2,660 shares during the period. Finally, Quarry LP increased its position in shares of Amcor by 2,064.5% during the fourth quarter. Quarry LP now owns 3,723 shares of the company's stock worth $35,000 after acquiring an additional 3,551 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Amcor Stock Performance

Shares of NYSE AMCR traded down $0.18 during midday trading on Friday, hitting $9.65. 14,423,568 shares of the stock traded hands, compared to its average volume of 21,146,165. Amcor PLC has a one year low of $8.37 and a one year high of $11.48. The firm has a 50-day moving average of $9.24 and a two-hundred day moving average of $9.52. The firm has a market capitalization of $13.95 billion, a P/E ratio of 17.23, a PEG ratio of 1.24 and a beta of 0.73. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70.

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

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 5.28%. Amcor's dividend payout ratio (DPR) is presently 91.07%.

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.