Lifeworks Advisors LLC Acquires 107,729 Shares of Amcor PLC (NYSE:AMCR)

Lifeworks Advisors LLC lifted its stake in Amcor PLC (NYSE:AMCR - Free Report) by 22.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 598,482 shares of the company's stock after purchasing an additional 107,729 shares during the period. Amcor accounts for approximately 1.0% of Lifeworks Advisors LLC's holdings, making the stock its 27th largest holding. Lifeworks Advisors LLC's holdings in Amcor were worth $5,805,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CX Institutional acquired a new position in shares of Amcor during the 1st quarter worth about $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 buying an additional 95,314 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Amcor by 2.2% during the 4th 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 in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in Amcor during the first quarter worth approximately $121,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Amcor by 16.3% in the 1st 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. 45.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Jefferies Financial Group started coverage on shares of Amcor in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price objective on the stock. UBS Group upgraded Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Wells Fargo & Company raised their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Raymond James Financial initiated coverage on Amcor in a research report on Tuesday, April 22nd. They issued a "market perform" rating for the company. Finally, Truist Financial set a $11.00 target price on shares of Amcor and gave the stock a "buy" rating in a research report on Friday, July 11th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.51.

Amcor Stock Down 0.2%

AMCR traded down $0.02 during trading on Friday, hitting $9.75. The company had a trading volume of 14,899,449 shares, compared to its average volume of 19,417,992. The business has a 50-day moving average of $9.32 and a 200-day moving average of $9.54. Amcor PLC has a 1-year low of $8.37 and a 1-year high of $11.48. The company has a market cap of $14.08 billion, a PE ratio of 17.40, a P/E/G ratio of 1.25 and a beta of 0.73. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.70 and a quick ratio of 1.16.

Amcor (NYSE:AMCR - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting analysts' consensus estimates of $0.18. Amcor had a net margin of 5.99% and a return on equity of 26.49%. The firm had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.51 billion. During the same period last year, the firm posted $0.13 earnings per share. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, analysts forecast that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd were paid a $0.1275 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.23%. Amcor's payout ratio is 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.