Greenwood Capital Associates LLC Buys Shares of 30,110 Amcor PLC $AMCR

Greenwood Capital Associates LLC acquired a new stake in Amcor PLC (NYSE:AMCR) during the first quarter, Holdings Channel reports. The firm acquired 30,110 shares of the company’s stock, valued at approximately $1,197,000.

A number of other institutional investors also recently modified their holdings of AMCR. AdvisorNet Financial Inc purchased a new position in Amcor in the 1st quarter valued at approximately $25,000. DV Equities LLC purchased a new stake in shares of Amcor during the fourth quarter worth $27,000. Brown Lisle Cummings Inc. lifted its position in shares of Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after acquiring an additional 2,000 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Amcor by 46.1% in the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after acquiring an additional 1,257 shares during the period. Finally, N.E.W. Advisory Services LLC boosted its holdings in shares of Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after acquiring an additional 373 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Trading Up 1.8%

Shares of AMCR stock opened at $42.71 on Friday. 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 PLC has a 52-week low of $36.25 and a 52-week high of $50.94. The company has a market capitalization of $19.75 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 1.18 and a beta of 0.62. The business’s fifty day moving average is $40.10 and its 200 day moving average is $42.10.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to analyst estimates of $5.71 billion. During the same quarter last year, the company earned $0.90 earnings per share. The firm’s quarterly revenue was up 77.4% on a year-over-year basis. On average, equities research analysts anticipate that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AMCR shares. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price for the company. 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 decreased 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, JPMorgan Chase & Co. lowered their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.00.

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.