Strategic Investment Advisors MI Invests $982,000 in Amcor PLC $AMCR

Key Points

• Strategic Investment Advisors MI acquired 24,712 Amcor shares worth approximately $982,000 during the first quarter, while institutional investors collectively own 45.14% of the company.
• Analysts maintain a generally positive view, with Amcor receiving a consensus “Moderate Buy” rating and an average price target of $48.08.
• Amcor reported quarterly earnings of $0.96 per share and revenue of $5.91 billion, up 77.4% year over year. The company also pays an annualized dividend of $2.60 per share, representing a 5.8% yield.

Strategic Investment Advisors MI purchased a new position in shares of Amcor PLC (NYSE:AMCR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 24,712 shares of the company's stock, valued at approximately $982,000.

Several other institutional investors have also recently bought and sold shares of the business. AdvisorNet Financial Inc bought a new stake in shares of Amcor during the first quarter worth $25,000. Palladiem LLC bought a new position in shares of Amcor in the first quarter valued at about $34,000. Root Financial Partners LLC acquired a new position in Amcor during the 1st quarter worth about $41,000. American Capital Advisory LLC acquired a new position in Amcor during the 1st quarter worth about $44,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in Amcor during the 1st quarter worth about $49,000. Institutional investors own 45.14% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Amcor from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. Jefferies Financial Group set a $44.92 price target on shares of Amcor and gave the company a "hold" rating in a research note on Tuesday, July 21st. Citigroup lowered their price target on shares of Amcor from $54.00 to $47.00 and set a "buy" rating for the company in a report on Friday, May 8th. Bank of America boosted their price objective on shares of Amcor from $48.00 to $51.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Finally, Truist Financial reaffirmed a "buy" rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.08.

Amcor Stock Down 1.4%

Shares of NYSE AMCR opened at $45.20 on Friday. The firm has a market capitalization of $20.90 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 1.44 and a beta of 0.62. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The firm's 50-day moving average is $41.76 and its 200-day moving average is $42.31.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the business posted $0.90 earnings per share. Amcor's revenue was up 77.4% compared to the same quarter last year. Equities analysts expect that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.8%. Amcor's payout ratio is 181.82%.

Amcor Profile

Amcor NYSE: AMCR is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company's product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor's packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.

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