73,010 Shares in Amcor PLC $AMCR Bought by Essex Financial Services Inc.

Essex Financial Services Inc. purchased a new position in Amcor PLC (NYSE:AMCR) during the fourth quarter, Holdings Channel reports. The firm purchased 73,010 shares of the company’s stock, valued at approximately $609,000.

A number of other hedge funds also recently modified their holdings of AMCR. Brown Lisle Cummings Inc. increased its stake in Amcor by 137.9% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in Amcor in the second quarter valued at approximately $36,000. Larson Financial Group LLC increased its stake in Amcor by 46.1% in the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after acquiring an additional 1,257 shares during the last quarter. N.E.W. Advisory Services LLC increased its stake in Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after acquiring an additional 373 shares during the last quarter. Finally, Huntington National Bank increased its stake in Amcor by 81.8% in the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after acquiring an additional 2,020 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

NYSE AMCR opened at $37.72 on Tuesday. The firm’s fifty day moving average price is $39.43 and its two-hundred day moving average price is $42.24. The stock has a market cap of $17.44 billion, a PE ratio of 26.38, a PEG ratio of 1.17 and a beta of 0.63. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44.

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

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 6.9%. Amcor’s payout ratio is currently 181.82%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMCR. Robert W. Baird set a $54.00 price objective on shares of Amcor in a research note on Wednesday, February 4th. Truist Financial reaffirmed a “buy” rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Finally, Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.33.

Amcor Company 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.