Amcor PLC (NYSE:AMCR) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 16.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,256,497 shares of the company's stock after acquiring an additional 175,731 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.09% of Amcor worth $12,188,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CVA Family Office LLC boosted 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 worth $32,000 after purchasing an additional 2,280 shares in the last quarter. Jones Financial Companies Lllp lifted its stake 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 valued at $35,000 after purchasing an additional 2,660 shares during the period. Quarry LP boosted its holdings in Amcor by 2,064.5% during the fourth quarter. Quarry LP now owns 3,723 shares of the company's stock worth $35,000 after buying an additional 3,551 shares in the last quarter. Huntington National Bank grew its position in Amcor by 52.4% during the fourth quarter. Huntington National Bank now owns 4,426 shares of the company's stock valued at $42,000 after buying an additional 1,522 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Amcor during the fourth quarter valued at $44,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Price Performance

Amcor stock traded up $0.19 during midday trading on Thursday, reaching $9.24. The company had a trading volume of 21,180,707 shares, compared to its average volume of 20,545,081. 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 PLC has a 12-month low of $8.37 and a 12-month high of $11.48. The company has a market capitalization of $13.35 billion, a P/E ratio of 16.49, a P/E/G ratio of 2.51 and a beta of 0.73. The firm's fifty day simple moving average is $9.21 and its 200-day simple moving average is $9.54.

Amcor (NYSE:AMCR - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18. The business had revenue of $3.33 billion during 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 business's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 earnings per share. As a group, equities analysts anticipate that Amcor PLC will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd were paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend was Thursday, May 22nd. Amcor's dividend payout ratio is currently 91.07%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AMCR. Wells Fargo & Company began coverage on shares of Amcor in a research report on Thursday. They issued an "overweight" rating and a $10.00 price objective for the company. Truist Financial reduced their price target 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 initiated coverage on Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating on the stock. Finally, UBS Group upgraded Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $11.20.

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.