Inceptionr LLC Purchases Shares of 123,929 Amcor PLC $AMCR

Inceptionr LLC purchased a new stake in shares of Amcor PLC (NYSE:AMCR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 123,929 shares of the company’s stock, valued at approximately $1,034,000.

Other large investors have also added to or reduced their stakes in the company. Brown Lisle Cummings Inc. lifted its holdings in Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Amcor by 46.1% during the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after purchasing an additional 1,257 shares in the last quarter. N.E.W. Advisory Services LLC lifted its holdings in Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after purchasing an additional 373 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in Amcor during the second quarter valued at approximately $36,000. Finally, Huntington National Bank lifted its holdings in Amcor by 81.8% during the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after purchasing an additional 2,020 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AMCR shares. Truist Financial reaffirmed a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Citigroup reduced their price objective 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. JPMorgan Chase & Co. reduced their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Wells Fargo & Company set a $41.00 price objective on shares of Amcor and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.33.

Amcor Trading Down 1.5%

Amcor stock opened at $38.27 on Thursday. The stock has a market cap of $17.69 billion, a P/E ratio of 26.76, a PEG ratio of 1.17 and a beta of 0.64. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The firm’s 50 day moving average price is $39.30 and its 200-day moving average price is $42.04.

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

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 6.8%. The ex-dividend date is Thursday, May 28th. Amcor’s payout ratio is currently 181.82%.

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.