Janney Montgomery Scott LLC Purchases 136,542 Shares of Amcor PLC (NYSE:AMCR)

Janney Montgomery Scott LLC raised its stake in Amcor PLC (NYSE:AMCR - Free Report) by 12.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,205,849 shares of the company's stock after buying an additional 136,542 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.08% of Amcor worth $11,697,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AMCR. CVA Family Office LLC increased its position in Amcor by 234.1% in the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after acquiring an additional 2,280 shares during the period. Jones Financial Companies Lllp increased 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 valued at $35,000 after purchasing an additional 2,660 shares during the period. Quarry LP raised its stake in shares of Amcor by 2,064.5% during the fourth quarter. Quarry LP now owns 3,723 shares of the company's stock valued at $35,000 after purchasing an additional 3,551 shares in the last quarter. Huntington National Bank lifted its holdings in Amcor by 52.4% in the fourth quarter. Huntington National Bank now owns 4,426 shares of the company's stock worth $42,000 after purchasing an additional 1,522 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Amcor in the 4th quarter valued at about $44,000. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Up 1.3%

Shares of Amcor stock traded up $0.12 during trading on Monday, reaching $9.09. The stock had a trading volume of 23,998,677 shares, compared to its average volume of 20,353,598. 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 company has a market capitalization of $13.14 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 2.49 and a beta of 0.74. The stock has a fifty day moving average price of $9.22 and a two-hundred day moving average price of $9.55. 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 released its earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Amcor had a return on equity of 26.49% and a net margin of 5.99%. The firm had revenue of $3.33 billion for the quarter, compared to analysts' expectations of $3.51 billion. During the same quarter in the previous year, the business posted $0.13 EPS. The business's quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts predict that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were paid a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.61%. Amcor's payout ratio is currently 91.07%.

Analyst Upgrades and Downgrades

AMCR has been the subject of several research analyst reports. Truist Financial cut their price objective on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Raymond James Financial started coverage on Amcor in a report on Tuesday, April 22nd. They set a "market perform" rating on the stock. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.31.

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.