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Envestnet Asset Management Inc. Increases Stock Position in Amcor PLC (NYSE:AMCR)

Amcor logo with Industrials background

Envestnet Asset Management Inc. raised its stake in Amcor PLC (NYSE:AMCR - Free Report) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,151,517 shares of the company's stock after buying an additional 88,028 shares during the period. Envestnet Asset Management Inc. owned 0.22% of Amcor worth $30,570,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. CX Institutional acquired a new position in shares of Amcor during the first quarter worth $111,000. SG Americas Securities LLC lifted its holdings in shares of Amcor by 174.3% during the first quarter. SG Americas Securities LLC now owns 149,983 shares of the company's stock worth $1,455,000 after purchasing an additional 95,314 shares during the period. Vanguard Group Inc. lifted its holdings 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. OneDigital Investment Advisors LLC acquired a new position in Amcor in the first quarter valued at $121,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Amcor by 16.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,256,497 shares of the company's stock valued at $12,188,000 after buying an additional 175,731 shares during the period. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Stock Down 0.2%

Amcor stock traded down $0.02 during midday trading on Wednesday, hitting $9.43. 3,699,502 shares of the stock were exchanged, compared to its average volume of 21,145,975. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $13.62 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth 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. The business's 50-day moving average price is $9.26 and its 200-day moving average price is $9.53.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18. Amcor had a net margin of 5.99% and a return on equity of 26.49%. The company had revenue of $3.33 billion for the quarter, compared to analysts' expectations of $3.51 billion. During the same period in the prior year, the company posted $0.13 EPS. Amcor's revenue was down 2.3% compared to the same quarter last year. On average, research analysts expect 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 issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend was Thursday, May 22nd. Amcor's dividend payout ratio is currently 91.07%.

Analyst Ratings Changes

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

Get Our Latest Research Report on Amcor

Amcor Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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