Navellier & Associates Inc. Invests $656,000 in Amcor PLC (NYSE:AMCR)

Key Points

• Navellier & Associates Inc. acquired 70,485 shares of Amcor PLC in the first quarter, bringing their total investment to approximately $656,000.
• Amcor reported a quarterly revenue of $3.33 billion, which was below analysts' expectations of $3.51 billion, although it met the EPS estimate of $0.18.
• The company announced a quarterly dividend of $0.1275 per share, reflecting a dividend yield of 5.23% and a high payout ratio of 91.07%.

Navellier & Associates Inc. bought a new stake in Amcor PLC (NYSE:AMCR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 70,485 shares of the company's stock, valued at approximately $656,000.

Several other institutional investors and hedge funds have also made changes to their positions in AMCR. Rakuten Securities Inc. raised its stake in Amcor by 18,725.0% during the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock valued at $29,000 after acquiring an additional 2,996 shares during the last quarter. HM Payson & Co. purchased a new stake in Amcor during the 1st quarter valued at approximately $30,000. CVA Family Office LLC raised its stake in Amcor by 234.1% during 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 last quarter. Quarry LP raised its stake in Amcor by 2,064.5% during the 4th quarter. Quarry LP now owns 3,723 shares of the company's stock valued at $35,000 after acquiring an additional 3,551 shares during the last quarter. Finally, Huntington National Bank raised its stake in Amcor by 52.4% during the 4th quarter. Huntington National Bank now owns 4,426 shares of the company's stock valued at $42,000 after acquiring an additional 1,522 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Amcor Trading Down 1.5%

Shares of AMCR traded down $0.15 during trading hours on Wednesday, hitting $9.52. The stock had a trading volume of 3,450,978 shares, compared to its average volume of 28,914,930. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70. The firm has a market cap of $13.75 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.23 and a beta of 0.73. The company's fifty day simple moving average is $9.33 and its 200 day simple moving average is $9.54. Amcor PLC has a 12-month low of $8.37 and a 12-month high of $11.48.

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

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.