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

Moran Wealth Management LLC grew its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 67.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,786,756 shares of the company's stock after purchasing an additional 718,058 shares during the period. Moran Wealth Management LLC owned approximately 0.12% of Amcor worth $17,332,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Rakuten Securities Inc. boosted its position in shares of Amcor by 18,725.0% during the 1st 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. CVA Family Office LLC raised its stake in shares of Amcor by 234.1% during the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock worth $32,000 after buying an additional 2,280 shares during the last quarter. Quarry LP raised its stake in shares of Amcor by 2,064.5% during the 4th quarter. Quarry LP now owns 3,723 shares of the company's stock worth $35,000 after buying an additional 3,551 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock worth $35,000 after buying an additional 2,660 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Amcor in the 4th quarter valued at about $44,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMCR has been the subject of a number of research reports. Raymond James Financial initiated coverage on shares of Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating for the company. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday. Wells Fargo & Company initiated coverage on shares of Amcor in a research report on Thursday. They set an "overweight" rating and a $10.00 target price for the company. Finally, Truist Financial cut their target price on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $11.20.

Amcor Trading Down 0.1%

Shares of NYSE:AMCR traded down $0.01 during trading on Friday, reaching $9.21. The stock had a trading volume of 20,231,409 shares, compared to its average volume of 20,629,953. The business has a fifty day moving average price of $9.21 and a 200-day moving average price of $9.52. 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 cap of $13.30 billion, a P/E ratio of 16.44, a PEG ratio of 2.55 and a beta of 0.73. Amcor PLC has a fifty-two week low of $8.37 and a fifty-two week high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, meeting analysts' consensus estimates of $0.18. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates 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 business posted $0.13 earnings per share. As a group, analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend was Thursday, May 22nd. Amcor's dividend payout ratio is presently 91.07%.

Amcor Company 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.