Journey Strategic Wealth LLC Acquires New Stake in Amcor PLC $AMCR

Journey Strategic Wealth LLC purchased a new stake in Amcor PLC (NYSE:AMCR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,921 shares of the company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMCR. NewSquare Capital LLC increased its position in Amcor by 377.9% during the 2nd quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock valued at $26,000 after purchasing an additional 2,222 shares during the period. AdvisorNet Financial Inc lifted its position in shares of Amcor by 839.8% in the 2nd 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 shares of Amcor in the 2nd quarter valued at $29,000. Brentview Investment Management LLC acquired a new stake in shares of Amcor during the first quarter worth $31,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Amcor during the second quarter worth $33,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AMCR shares. Wells Fargo & Company dropped their target price on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, October 8th. Robert W. Baird cut their target price on Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Morgan Stanley reiterated an “overweight” rating and issued a $11.50 target price on shares of Amcor in a report on Wednesday, November 12th. Finally, Royal Bank Of Canada began coverage on Amcor in a research note on Monday, September 22nd. They issued a “sector perform” rating on the stock. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.91.

Amcor Price Performance

Shares of NYSE:AMCR opened at $8.48 on Tuesday. Amcor PLC has a twelve month low of $7.66 and a twelve month high of $10.70. The stock’s 50 day moving average is $8.19 and its 200-day moving average is $8.80. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $19.55 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.14 and a beta of 0.72.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) 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 business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter last year, the firm posted $0.16 EPS. Amcor’s revenue was up 71.3% compared to the same quarter last year. Sell-side analysts forecast that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

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

Amcor Company Profile

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.