Financial & Tax Architects LLC Raises Stock Holdings in Amcor plc (NYSE:AMCR)

Financial & Tax Architects LLC lifted its holdings in shares of Amcor plc (NYSE:AMCR) by 28.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,922 shares of the company’s stock after acquiring an additional 10,739 shares during the quarter. Financial & Tax Architects LLC’s holdings in Amcor were worth $469,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AMCR. Private Advisor Group LLC purchased a new stake in shares of Amcor during the fourth quarter valued at approximately $108,000. Principal Securities Inc. purchased a new stake in Amcor in the fourth quarter worth $86,000. Vanguard Personalized Indexing Management LLC increased its position in Amcor by 14.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 74,178 shares of the company’s stock worth $715,000 after buying an additional 9,466 shares during the last quarter. Financial Advocates Investment Management increased its position in Amcor by 7.7% in the fourth quarter. Financial Advocates Investment Management now owns 25,294 shares of the company’s stock worth $244,000 after buying an additional 1,806 shares during the last quarter. Finally, Norges Bank purchased a new stake in Amcor in the fourth quarter worth $47,669,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Citigroup raised their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird raised their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Stifel Nicolaus assumed coverage on Amcor in a research report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 target price for the company. Wells Fargo & Company raised their target price on Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. raised their target price on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.73.

Amcor Price Performance

Amcor stock opened at $10.99 on Wednesday. Amcor plc has a one year low of $8.45 and a one year high of $11.45. The business has a fifty day moving average price of $10.66 and a 200-day moving average price of $9.99. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69. The firm has a market capitalization of $15.88 billion, a P/E ratio of 24.42, a PEG ratio of 2.68 and a beta of 0.85.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, August 15th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. The firm 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%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the company earned $0.19 earnings per share. As a group, equities research analysts forecast that Amcor plc will post 0.75 EPS for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 6th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.55%. The ex-dividend date is Friday, September 6th. Amcor’s dividend payout ratio is 111.11%.

About Amcor

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.