Howard Capital Management LLC Purchases New Position in Amcor PLC $AMCR

Howard Capital Management LLC acquired a new position in Amcor PLC (NYSE:AMCR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 148,131 shares of the company’s stock, valued at approximately $6,201,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMCR. Rockefeller Capital Management L.P. raised its holdings in shares of Amcor by 55.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,307,985 shares of the company’s stock valued at $10,909,000 after purchasing an additional 467,065 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in Amcor by 219.4% in the second quarter. Concurrent Investment Advisors LLC now owns 64,241 shares of the company’s stock worth $2,785,000 after purchasing an additional 44,125 shares in the last quarter. Silicon Valley Capital Partners boosted its holdings in Amcor by 27.0% in the second quarter. Silicon Valley Capital Partners now owns 237,654 shares of the company’s stock worth $10,302,000 after purchasing an additional 50,510 shares in the last quarter. Citizens National Bank Trust Department bought a new stake in Amcor in the first quarter worth $1,251,000. Finally, Weiss Asset Management LP acquired a new position in Amcor during the first quarter worth $8,388,000. Institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

AMCR has been the topic of several recent research reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $47.00 target price (up from $44.00) on shares of Amcor in a report on Monday, August 17th. Bank of America upped their price target on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Amcor in a research note on Friday, August 7th. Wells Fargo & Company increased their price objective on Amcor from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, August 14th. Finally, BMO Capital Markets initiated coverage on Amcor in a research note on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Amcor currently has an average rating of “Moderate Buy” and an average price target of $49.36.

Amcor Stock Performance

Shares of Amcor stock traded up $0.03 on Friday, reaching $43.77. The stock had a trading volume of 3,425,243 shares, compared to its average volume of 3,136,535. The business’s 50-day moving average price is $44.16 and its two-hundred day moving average price is $42.25. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.76 and a current ratio of 1.25. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The stock has a market cap of $20.24 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 2.71 and a beta of 0.58.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Thursday, August 13th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. The business had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.05 billion. Amcor had a net margin of 4.71% and a return on equity of 15.92%. Amcor’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 EPS. On average, sell-side analysts forecast that Amcor PLC will post 1.84 EPS for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Friday, September 4th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Friday, September 4th. Amcor’s dividend payout ratio is 110.17%.

About Amcor

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging for food, beverages, pharmaceutical and medical products, personal care items, household goods and other consumer and industrial applications. Its portfolio includes flexible packaging, rigid containers, films, laminates, bags, bottles, closures, cartons and specialty packaging solutions.

The company works with brand owners and manufacturers to design packaging that supports product protection, shelf life, convenience and presentation.