SVB Wealth LLC Has $4.84 Million Position in Amcor PLC $AMCR

SVB Wealth LLC increased its stake in shares of Amcor PLC (NYSE:AMCR) by 89.0% during the 2nd quarter, Holdings Channel reports. The fund owned 111,552 shares of the company’s stock after acquiring an additional 52,531 shares during the period. SVB Wealth LLC’s holdings in Amcor were worth $4,836,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AMCR. Rockefeller Capital Management L.P. raised its stake in Amcor by 55.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,307,985 shares of the company’s stock worth $10,909,000 after buying an additional 467,065 shares during the period. Norges Bank bought a new position in Amcor in the fourth quarter worth approximately $308,724,000. Goldman Sachs Group Inc. grew its stake in Amcor by 12.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 14,328,439 shares of the company’s stock valued at $119,499,000 after acquiring an additional 1,603,673 shares during the period. Citizens National Bank Trust Department acquired a new stake in Amcor in the first quarter valued at approximately $1,251,000. Finally, Weiss Asset Management LP bought a new stake in shares of Amcor during the first quarter valued at approximately $8,388,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMCR. UBS Group assumed coverage on Amcor in a report on Tuesday, August 11th. They issued a “buy” rating and a $56.00 target price on the stock. Jefferies Financial Group set a $44.92 price target on shares of Amcor and gave the company a “hold” rating in a research note on Tuesday, July 21st. Bank of America upped their price objective on shares of Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Citigroup reaffirmed a “buy” rating and issued a $52.00 price objective (up from $47.00) on shares of Amcor in a research note on Friday, August 14th. Finally, Truist Financial set a $51.00 price objective on shares of Amcor in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.49.

Amcor Stock Performance

Shares of AMCR stock opened at $44.34 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.25 and a quick ratio of 0.76. The firm has a 50-day moving average of $45.45 and a 200-day moving average of $42.50. Amcor PLC has a one year low of $36.25 and a one year high of $50.94. The company has a market cap of $20.50 billion, a P/E ratio of 18.79, a P/E/G ratio of 2.47 and a beta of 0.60.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Thursday, August 13th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.04. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The business had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $6.05 billion. During the same period in the previous year, the company earned $0.20 earnings per share. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. Equities research analysts forecast that Amcor PLC will post 1.84 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Friday, September 4th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.60 annualized dividend and a dividend yield of 5.9%. Amcor’s dividend payout ratio (DPR) is currently 110.17%.

About Amcor

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.