SVB Wealth LLC Acquires 52,531 Shares of Amcor PLC $AMCR

SVB Wealth LLC raised its holdings in Amcor PLC (NYSE:AMCRFree Report) by 89.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 111,552 shares of the company’s stock after acquiring an additional 52,531 shares during the quarter. SVB Wealth LLC’s holdings in Amcor were worth $4,836,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AMCR. Capital International Investors bought a new stake in shares of Amcor in the fourth quarter worth $354,227,000. Norges Bank bought a new position in Amcor during the 4th quarter worth $308,724,000. California State Teachers Retirement System bought a new position in Amcor during the 2nd quarter worth $1,590,375,000. AQR Capital Management LLC raised its position in Amcor by 398.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after purchasing an additional 12,803,785 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Amcor during the 4th quarter worth about $103,713,000. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

AMCR stock opened at $44.34 on Wednesday. The firm has a market cap of $20.50 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 2.47 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 1.25 and a debt-to-equity ratio of 1.17. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The company’s fifty day simple moving average is $45.45 and its 200 day simple moving average is $42.50.

Amcor (NYSE:AMCRGet Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. Amcor had a return on equity of 15.92% and a net margin of 4.71%.The firm had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.05 billion. During the same period last year, the business posted $0.20 EPS. The business’s revenue was up 25.9% compared to the same quarter last year. On average, analysts expect that Amcor PLC will post 1.84 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, September 4th will be paid 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 yield of 5.9%. Amcor’s dividend payout ratio (DPR) is currently 110.17%.

Analyst Ratings Changes

A number of research firms have commented on AMCR. Bank of America upped their price target on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings restated a “hold (c)” rating on shares of Amcor in a research report on Friday, August 7th. Wells Fargo & Company lifted their price objective on Amcor from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, August 14th. 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. Finally, Citigroup reissued a “buy” rating and set a $52.00 target price (up from $47.00) on shares of Amcor in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Amcor has a consensus rating of “Moderate Buy” and an average target price of $49.49.

Check Out Our Latest Research Report on Amcor

Amcor Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

Receive News & Ratings for Amcor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amcor and related companies with MarketBeat.com's FREE daily email newsletter.