Rise Advisors LLC Takes $35,000 Position in Amcor plc (NYSE:AMCR)

Rise Advisors LLC acquired a new stake in Amcor plc (NYSE:AMCR) in the third quarter, Holdings Channel.com reports. The firm acquired 3,094 shares of the company’s stock, valued at approximately $35,000.

A number of other large investors also recently modified their holdings of the company. Riverview Trust Co purchased a new position in Amcor during the first quarter worth about $28,000. Quent Capital LLC increased its holdings in shares of Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after buying an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after buying an additional 2,519 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Amcor by 38.7% during the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after acquiring an additional 1,299 shares during the last quarter. Finally, ORG Partners LLC purchased a new position in Amcor in the second quarter worth $47,000. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Performance

Shares of NYSE:AMCR opened at $11.19 on Monday. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The company has a 50-day moving average price of $11.01 and a 200-day moving average price of $10.22. The company has a market cap of $16.17 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 2.72 and a beta of 0.85. Amcor plc has a 12 month low of $8.45 and a 12 month high of $11.48.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Thursday, August 15th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. Amcor’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 EPS. As a group, equities analysts anticipate that Amcor plc will post 0.75 EPS for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.47%. The ex-dividend date was Friday, September 6th. Amcor’s dividend payout ratio (DPR) is currently 111.11%.

Analysts Set New Price Targets

Several brokerages have issued reports on AMCR. Stifel Nicolaus initiated coverage on Amcor in a research note on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target for the company. Wells Fargo & Company increased their target price on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a report on Friday, August 16th. Citigroup boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. raised their price objective on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Finally, Robert W. Baird boosted their target price on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Amcor currently has a consensus rating of “Hold” and a consensus price target of $10.73.

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.