Castle Rock Wealth Management LLC Purchases New Stake in Amcor PLC $AMCR

Castle Rock Wealth Management LLC purchased a new stake in shares of Amcor PLC (NYSE:AMCR – Free Report) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 33,964 shares of the company’s stock, valued at approximately $1,419,000.

Several other large investors have also recently modified their holdings of AMCR. Rockefeller Capital Management L.P. grew its holdings in shares of Amcor by 55.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,307,985 shares of the company’s stock valued at $10,909,000 after buying an additional 467,065 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in Amcor by 219.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 64,241 shares of the company’s stock valued at $2,785,000 after acquiring an additional 44,125 shares in the last quarter. Silicon Valley Capital Partners lifted its position in Amcor by 27.0% in the 2nd quarter. Silicon Valley Capital Partners now owns 237,654 shares of the company’s stock valued at $10,302,000 after acquiring an additional 50,510 shares in the last quarter. Citizens National Bank Trust Department purchased a new stake in Amcor during the 1st quarter valued at $1,251,000. Finally, Weiss Asset Management LP purchased a new stake in Amcor during the 1st quarter valued at $8,388,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

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Amcor Stock Performance

Shares of NYSE:AMCR traded down $0.15 during mid-day trading on Friday, reaching $41.73. 2,716,437 shares of the company traded hands, compared to its average volume of 4,616,975. The company’s 50 day moving average price is $44.68 and its 200-day moving average price is $42.14. The firm has a market cap of $19.29 billion, a PE ratio of 17.68, a PEG ratio of 2.56 and a beta of 0.58. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.25 and a quick ratio of 0.76. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94.

Amcor (NYSE:AMCR – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. Amcor had a return on equity of 15.92% and a net margin of 4.71%.The business had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.05 billion. During the same period in the previous year, the business earned $0.20 earnings per share. The business’s revenue was up 25.9% on a year-over-year basis. On average, equities analysts expect that Amcor PLC will post 1.84 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Friday, September 4th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.60 dividend on an annualized basis and a yield of 6.2%. Amcor’s dividend payout ratio is presently 110.17%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMCR. Bank of America boosted their target price on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. BMO Capital Markets assumed coverage on shares of Amcor in a report on Thursday, July 16th. They set a “market perform” rating and a $47.00 price target on the stock. UBS Group assumed coverage on shares of Amcor in a research note on Tuesday, August 11th. They issued a “buy” rating and a $56.00 price target for the company. Truist Financial set a $51.00 price objective on shares of Amcor in a research report on Tuesday, August 18th. Finally, Citigroup restated a “buy” rating and set a $52.00 price objective (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, six have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.49.

Get Our Latest Stock Analysis on AMCR

About Amcor

(Free Report)

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging for food, beverages, pharmaceutical and medical products, personal care items, household goods and other consumer and industrial applications. Its portfolio includes flexible packaging, rigid containers, films, laminates, bags, bottles, closures, cartons and specialty packaging solutions.

The company works with brand owners and manufacturers to design packaging that supports product protection, shelf life, convenience and presentation.

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