Ibex Wealth Advisors Purchases Shares of 169,358 Amcor PLC $AMCR

Ibex Wealth Advisors acquired a new position in shares of Amcor PLC (NYSE:AMCR) in the first quarter, HoldingsChannel.com reports. The firm acquired 169,358 shares of the company’s stock, valued at approximately $6,732,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. N.E.W. Advisory Services LLC raised its position 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 valued at $34,000 after purchasing an additional 373 shares during the period. CYBER HORNET ETFs LLC boosted its holdings in shares of Amcor by 11.1% during the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock worth $37,000 after buying an additional 447 shares during the period. FineMark National Bank & Trust boosted its holdings in shares of Amcor by 0.6% during the 4th quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock worth $671,000 after buying an additional 503 shares during the period. United Asset Strategies Inc. grew its stake in Amcor by 1.6% in the 4th quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock valued at $321,000 after buying an additional 597 shares during the last quarter. Finally, AdvisorNet Financial Inc acquired a new position in Amcor in the 1st quarter valued at about $25,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup cut their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Wells Fargo & Company set a $41.00 price objective on Amcor and gave the company an “equal weight” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Amcor Stock Performance

NYSE AMCR opened at $42.71 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $19.75 billion, a P/E ratio of 29.87, a P/E/G ratio of 1.18 and a beta of 0.62. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The firm has a 50-day moving average price of $40.10 and a two-hundred day moving average price of $42.10.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, May 5th. The company reported $0.96 EPS 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 period last year, the firm earned $0.90 earnings per share. The business’s revenue for the quarter was up 77.4% on a year-over-year basis. Analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders 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 6.1%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 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.