Cetera Investment Advisers Has $8 Million Position in Amcor PLC $AMCR

Cetera Investment Advisers lessened its holdings in shares of Amcor PLC (NYSE:AMCR) by 73.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,185 shares of the company’s stock after selling 563,220 shares during the period. Cetera Investment Advisers’ holdings in Amcor were worth $7,997,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. PFG Investments LLC bought a new position in Amcor during the fourth quarter valued at about $262,000. Vanguard Group Inc. boosted its stake in shares of Amcor by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after acquiring an additional 1,845,627 shares in the last quarter. Code Waechter LLC increased its holdings in shares of Amcor by 105.1% during the 4th quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock valued at $451,000 after acquiring an additional 27,725 shares during the last quarter. Mountain Hill Investment Partners Corp. increased its holdings in shares of Amcor by 22.4% during the 4th quarter. Mountain Hill Investment Partners Corp. now owns 858,620 shares of the company’s stock valued at $7,161,000 after acquiring an additional 157,300 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new position in shares of Amcor in the 4th quarter valued at approximately $459,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMCR. Truist Financial restated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Citigroup dropped their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. BMO Capital Markets began coverage on shares of Amcor in a research report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price target on the stock. Wells Fargo & Company set a $43.00 price objective on shares of Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, July 15th. Finally, Bank of America upped their price objective on shares of Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. One 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.08.

Amcor Price Performance

Shares of NYSE:AMCR opened at $44.96 on Friday. The business has a 50 day moving average price of $41.89 and a 200 day moving average price of $42.33. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a market cap of $20.79 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 1.42 and a beta of 0.62. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 77.4% on a year-over-year basis. Research analysts predict that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were paid a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. Amcor’s dividend payout ratio (DPR) is presently 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.