Hedeker Wealth LLC Invests $766,000 in Amcor PLC $AMCR

Hedeker Wealth LLC acquired a new stake in Amcor PLC (NYSE:AMCR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 83,367 shares of the company’s stock, valued at approximately $766,000.

Other hedge funds also recently made changes to their positions in the company. NewSquare Capital LLC boosted its position in Amcor by 377.9% in the second quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock valued at $26,000 after buying an additional 2,222 shares in the last quarter. AdvisorNet Financial Inc grew its stake in Amcor by 839.8% during the second quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock worth $28,000 after purchasing an additional 2,704 shares during the period. Adirondack Trust Co. bought a new stake in Amcor in the second quarter valued at $29,000. Brentview Investment Management LLC bought a new stake in shares of Amcor during the first quarter valued at approximately $31,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Amcor in the 2nd quarter worth about $33,000. 45.14% of the stock is owned by institutional investors.

Insider Buying and Selling at Amcor

In other Amcor news, Director Stephen E. Sterrett bought 10,000 shares of Amcor stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $8.55 per share, with a total value of $85,500.00. Following the completion of the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $85,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is owned by insiders.

Amcor Price Performance

Shares of AMCR stock opened at $8.50 on Friday. The stock’s 50-day moving average is $8.16 and its 200 day moving average is $8.84. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. Amcor PLC has a 1-year low of $7.66 and a 1-year high of $10.70. The company has a market cap of $19.58 billion, a P/E ratio of 23.60, a PEG ratio of 1.14 and a beta of 0.72.

Amcor (NYSE:AMCR) last announced its earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. Amcor had a net margin of 3.40% and a return on equity of 19.43%. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period last year, the firm earned $0.16 earnings per share. Amcor’s revenue was up 71.3% compared to the same quarter last year. Research analysts predict that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Friday, November 28th will be given a $0.13 dividend. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Friday, November 28th. Amcor’s payout ratio is currently 152.94%.

Analysts Set New Price Targets

AMCR has been the topic of several analyst reports. Stifel Nicolaus raised Amcor from a “hold” rating to a “buy” rating and set a $10.20 target price on the stock in a research report on Friday, October 10th. Wells Fargo & Company reduced their target price on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, October 15th. The Goldman Sachs Group assumed coverage on shares of Amcor in a research report on Wednesday, September 10th. They set a “buy” rating on the stock. JPMorgan Chase & Co. started coverage on shares of Amcor in a report on Friday, September 19th. They set an “overweight” rating and a $10.00 price target on the stock. Finally, Royal Bank Of Canada started coverage on shares of Amcor in a research note on Monday, September 22nd. They issued a “sector perform” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.91.

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.