Diversify Wealth Management LLC Has $3.80 Million Position in Amcor PLC (NYSE:AMCR)

Diversify Wealth Management LLC raised its stake in Amcor PLC (NYSE:AMCR - Free Report) by 27.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 407,031 shares of the company's stock after buying an additional 88,182 shares during the quarter. Diversify Wealth Management LLC's holdings in Amcor were worth $3,798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AMCR. Vanguard Group Inc. raised its position in shares of Amcor by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock worth $555,064,000 after purchasing an additional 1,249,868 shares during the period. Geode Capital Management LLC raised its position in shares of Amcor by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company's stock worth $345,952,000 after purchasing an additional 539,756 shares during the period. Invesco Ltd. raised its position in shares of Amcor by 16.0% during the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock worth $286,300,000 after purchasing an additional 4,199,209 shares during the period. Wellington Management Group LLP raised its position in shares of Amcor by 25.1% during the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock worth $263,215,000 after purchasing an additional 5,614,233 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Amcor by 11.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 18,700,717 shares of the company's stock worth $175,967,000 after purchasing an additional 1,886,794 shares during the period. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Stock Down 0.3%

AMCR stock traded down $0.03 during mid-day trading on Monday, reaching $9.63. The company had a trading volume of 15,125,155 shares, compared to its average volume of 21,169,296. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.70 and a quick ratio of 1.16. The stock has a 50 day simple moving average of $9.25 and a two-hundred day simple moving average of $9.53. The company has a market capitalization of $13.92 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.22 and a beta of 0.73. Amcor PLC has a 52 week low of $8.37 and a 52 week high of $11.48.

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 analysts' consensus estimates 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 return on equity of 26.49% and a net margin of 5.99%. The business's revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.13 earnings per share. As a group, equities analysts predict that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were paid 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 5.30%. Amcor's dividend payout ratio is currently 91.07%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Raymond James Financial assumed coverage on Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating on the stock. Wells Fargo & Company started coverage on Amcor in a research report on Thursday, June 26th. They issued an "overweight" rating and a $10.00 target price on the stock. Jefferies Financial Group started coverage on Amcor in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 target price on the stock. UBS Group raised Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Finally, Truist Financial set a $11.00 target price on Amcor and gave the company a "buy" rating 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 stock. According to MarketBeat.com, Amcor presently has an average rating of "Moderate Buy" and a consensus target price of $11.37.

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.