Global Retirement Partners LLC Has $350,000 Stock Position in Amcor PLC $AMCR

Global Retirement Partners LLC increased its holdings in shares of Amcor PLC (NYSE:AMCR) by 64.9% in the 4th quarter, HoldingsChannel reports. The firm owned 41,965 shares of the company’s stock after acquiring an additional 16,510 shares during the period. Global Retirement Partners LLC’s holdings in Amcor were worth $350,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. N.E.W. Advisory Services LLC grew its stake in Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after purchasing an additional 373 shares during the period. United Asset Strategies Inc. grew its stake in Amcor by 1.6% during the fourth quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock worth $321,000 after purchasing an additional 597 shares during the period. IFP Advisors Inc grew its stake in Amcor by 12.7% during the fourth quarter. IFP Advisors Inc now owns 6,518 shares of the company’s stock worth $54,000 after purchasing an additional 733 shares during the period. Shayne & Jacobs LLC grew its stake in Amcor by 0.6% during the fourth quarter. Shayne & Jacobs LLC now owns 129,101 shares of the company’s stock worth $1,077,000 after purchasing an additional 755 shares during the period. Finally, Stratos Wealth Partners LTD. grew its stake in Amcor by 3.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 26,857 shares of the company’s stock worth $224,000 after purchasing an additional 832 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMCR shares. Robert W. Baird set a $54.00 target price on Amcor in a research note on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price for the company. Truist Financial reaffirmed a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Weiss Ratings raised 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 target price on Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.33.

Amcor Stock Down 1.0%

Shares of NYSE:AMCR opened at $38.87 on Friday. The business’s 50 day simple moving average is $39.45 and its two-hundred day simple moving average is $42.27. The firm has a market cap of $17.97 billion, a P/E ratio of 27.18, a PEG ratio of 1.19 and a beta of 0.63. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94.

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

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be issued a $0.65 dividend. The ex-dividend date is Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.7%. Amcor’s dividend payout ratio is presently 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.