Wealth Enhancement Advisory Services LLC Acquires 175,731 Shares of Amcor PLC (NYSE:AMCR)

Wealth Enhancement Advisory Services LLC grew its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 16.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,256,497 shares of the company's stock after purchasing an additional 175,731 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.09% of Amcor worth $12,188,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CX Institutional bought a new position in Amcor during the 1st quarter worth approximately $111,000. SG Americas Securities LLC raised its holdings in Amcor by 174.3% during the 1st quarter. SG Americas Securities LLC now owns 149,983 shares of the company's stock worth $1,455,000 after purchasing an additional 95,314 shares during the last quarter. Vanguard Group Inc. raised its holdings in 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 during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Amcor by 11,326.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock worth $69,000 after purchasing an additional 7,249 shares during the last quarter. Finally, Norges Bank bought a new position in Amcor during the 4th quarter worth approximately $6,223,000. Institutional investors own 45.14% of the company's stock.

Wall Street Analyst Weigh In

AMCR has been the subject of several research analyst reports. Truist Financial lowered their price objective on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Raymond James Financial started coverage on shares of Amcor in a research note on Tuesday, April 22nd. They issued a "market perform" rating for the company. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $11.31.

Amcor Price Performance

Shares of NYSE:AMCR opened at $9.00 on Monday. Amcor PLC has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The business has a 50-day simple moving average of $9.23 and a two-hundred day simple moving average of $9.55. 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 $13.00 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 2.49 and a beta of 0.74.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $3.51 billion. During the same quarter in the prior year, the firm earned $0.13 EPS. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts expect that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were paid a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.67%. Amcor's payout ratio is 91.07%.

About Amcor

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.

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