Good Steward Wealth Advisors LLC Makes New $151,000 Investment in Amcor PLC (NYSE:AMCR)

Good Steward Wealth Advisors LLC purchased a new position in shares of Amcor PLC (NYSE:AMCR) during the 1st quarter, Holdings Channel.com reports. The fund purchased 15,523 shares of the company’s stock, valued at approximately $151,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMCR. Rakuten Securities Inc. grew its position in Amcor by 18,725.0% during the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company’s stock worth $29,000 after purchasing an additional 2,996 shares during the period. CVA Family Office LLC grew its position in Amcor by 234.1% during the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company’s stock worth $32,000 after purchasing an additional 2,280 shares during the period. Jones Financial Companies Lllp grew its position in shares of Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after acquiring an additional 2,660 shares during the period. Quarry LP grew its position in shares of Amcor by 2,064.5% during the 4th quarter. Quarry LP now owns 3,723 shares of the company’s stock valued at $35,000 after acquiring an additional 3,551 shares during the period. Finally, Huntington National Bank grew its position in shares of Amcor by 52.4% during the 4th quarter. Huntington National Bank now owns 4,426 shares of the company’s stock valued at $42,000 after acquiring an additional 1,522 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Trading Down 0.6%

Shares of Amcor stock opened at $9.00 on Friday. The firm has a market capitalization of $13.00 billion, a PE ratio of 16.06, a P/E/G ratio of 2.51 and a beta of 0.73. Amcor PLC has a twelve month low of $8.37 and a twelve month high of $11.48. The firm’s 50-day moving average price is $9.23 and its 200 day moving average price is $9.56. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 2.24.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. Amcor had a net margin of 5.99% and a return on equity of 26.49%. Amcor’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.13 EPS. On average, sell-side analysts predict that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date was Thursday, May 22nd. Amcor’s dividend payout ratio is presently 91.07%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMCR. Truist Financial dropped their target price on Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Raymond James Financial began coverage on Amcor in a research report on Tuesday, April 22nd. They set a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Amcor has an average rating of “Moderate Buy” and a consensus price target of $11.31.

About Amcor

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.