Keudell Morrison Wealth Management Has $484,000 Stake in Amcor PLC $AMCR

Keudell Morrison Wealth Management lowered its position in shares of Amcor PLC (NYSE:AMCR) by 73.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,181 shares of the company’s stock after selling 33,785 shares during the period. Keudell Morrison Wealth Management’s holdings in Amcor were worth $484,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Dakota Wealth Management boosted its position in Amcor by 74.6% during the 4th quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock worth $2,881,000 after buying an additional 147,639 shares during the period. PFG Investments LLC acquired a new position in Amcor in the 4th quarter valued at approximately $262,000. Vanguard Group Inc. increased its position in Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after acquiring an additional 1,845,627 shares during the period. Code Waechter LLC raised its stake in shares of Amcor by 105.1% during the fourth 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. Finally, Nordea Investment Management AB raised its stake in shares of Amcor by 64.0% during the fourth quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock valued at $2,034,000 after acquiring an additional 94,753 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Down 0.4%

NYSE:AMCR opened at $40.53 on Wednesday. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 1.23 and a beta of 0.64. The firm has a fifty day simple moving average of $39.35 and a two-hundred day simple moving average of $41.92.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. Analysts expect that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s dividend payout ratio is 181.82%.

Analysts Set New Price Targets

AMCR has been the topic of several analyst reports. Wells Fargo & Company set a $41.00 price objective on shares of Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. lowered their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Truist Financial reaffirmed a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Citigroup reduced their price target on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.