Claro Advisors LLC Makes New Investment in Amcor plc (NYSE:AMCR)

Claro Advisors LLC bought a new stake in shares of Amcor plc (NYSE:AMCR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,427 shares of the company’s stock, valued at approximately $152,000.

A number of other large investors also recently added to or reduced their stakes in AMCR. Rise Advisors LLC bought a new position in shares of Amcor in the third quarter worth approximately $35,000. ORG Wealth Partners LLC purchased a new position in shares of Amcor in the third quarter valued at about $35,000. Quent Capital LLC raised its stake in shares of Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after acquiring an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Amcor by 132.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after purchasing an additional 2,519 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of Amcor by 38.7% in the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after purchasing an additional 1,299 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AMCR shares. Robert W. Baird lifted their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Citigroup boosted their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price target on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company lifted their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.94.

Amcor Price Performance

Shares of AMCR stock opened at $9.89 on Wednesday. The stock has a market capitalization of $14.29 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 1.84 and a beta of 0.85. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. Amcor plc has a twelve month low of $8.78 and a twelve month high of $11.48. The stock has a fifty day simple moving average of $10.88 and a two-hundred day simple moving average of $10.50.

Amcor (NYSE:AMCR) last posted its earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. On average, analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be given a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.16%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s payout ratio is presently 94.34%.

Amcor 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.