Waddell & Associates LLC Invests $208,000 in Amcor PLC $AMCR

Waddell & Associates LLC bought a new position in Amcor PLC (NYSE:AMCR) during the fourth quarter, Holdings Channel reports. The fund bought 24,947 shares of the company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. LPL Financial LLC grew its position in shares of Amcor by 63.1% in the 4th quarter. LPL Financial LLC now owns 7,498,061 shares of the company’s stock worth $62,534,000 after buying an additional 2,901,392 shares during the period. Franklin Resources Inc. grew its position in shares of Amcor by 1.2% in the 4th quarter. Franklin Resources Inc. now owns 2,731,684 shares of the company’s stock worth $22,782,000 after buying an additional 31,552 shares during the period. ING Groep NV purchased a new stake in shares of Amcor in the 4th quarter worth about $83,000. Capital World Investors grew its position in shares of Amcor by 7.5% in the 4th quarter. Capital World Investors now owns 4,893,720 shares of the company’s stock worth $40,814,000 after buying an additional 342,350 shares during the period. Finally, Capital International Inc. CA purchased a new stake in shares of Amcor in the 4th quarter worth about $29,106,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Price Performance

AMCR opened at $38.27 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The stock has a market capitalization of $17.69 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.17 and a beta of 0.64. The company’s 50-day simple moving average is $39.30 and its two-hundred day simple moving average is $42.04. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business’s revenue for the quarter was up 77.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. As a group, analysts predict that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be paid a dividend of $0.65 per share. The ex-dividend date is Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.8%. Amcor’s dividend payout ratio is currently 181.82%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price on the stock. Citigroup lowered their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. lowered their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Truist Financial reaffirmed a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Finally, Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.33.

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.