Commonwealth Equity Services LLC Has $8.32 Million Holdings in Amcor plc (NYSE:AMCR)

Posted by Defense World Staff on May 9th, 2023

Commonwealth Equity Services LLC boosted its holdings in Amcor plc (NYSE:AMCR – Get Rating) by 8.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 698,688 shares of the company’s stock after buying an additional 56,249 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Amcor were worth $8,321,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mercer Global Advisors Inc. ADV boosted its stake in shares of Amcor by 1.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 48,176 shares of the company’s stock valued at $517,000 after purchasing an additional 857 shares in the last quarter. Lumature Wealth Partners LLC boosted its stake in shares of Amcor by 4.2% during the third quarter. Lumature Wealth Partners LLC now owns 21,955 shares of the company’s stock valued at $236,000 after purchasing an additional 892 shares in the last quarter. Apeiron RIA LLC boosted its stake in shares of Amcor by 2.9% during the fourth quarter. Apeiron RIA LLC now owns 32,173 shares of the company’s stock valued at $383,000 after purchasing an additional 897 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Amcor by 16.0% during the third quarter. IFP Advisors Inc now owns 6,593 shares of the company’s stock valued at $94,000 after purchasing an additional 908 shares in the last quarter. Finally, Spire Wealth Management raised its position in shares of Amcor by 29.5% during the third quarter. Spire Wealth Management now owns 4,007 shares of the company’s stock worth $43,000 after acquiring an additional 913 shares during the last quarter. 46.79% of the stock is owned by institutional investors and hedge funds.

Amcor Trading Up 0.4 %

NYSE AMCR opened at $10.46 on Tuesday. The company has a market cap of $15.39 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 0.35 and a beta of 0.80. Amcor plc has a 52 week low of $9.79 and a 52 week high of $13.60. The business has a 50 day moving average price of $10.96 and a 200-day moving average price of $11.52. The company has a quick ratio of 0.76, a current ratio of 1.27 and a debt-to-equity ratio of 1.58.

Amcor (NYSE:AMCR – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.69 billion. Amcor had a return on equity of 27.94% and a net margin of 6.54%. During the same quarter in the previous year, the company posted $0.21 earnings per share. As a group, equities analysts expect that Amcor plc will post 0.73 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Wednesday, May 24th will be given a dividend of $0.1225 per share. The ex-dividend date of this dividend is Tuesday, May 23rd. This represents a $0.49 annualized dividend and a dividend yield of 4.68%. Amcor’s payout ratio is 74.24%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Morgan Stanley downgraded Amcor from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, February 8th. JPMorgan Chase & Co. upgraded Amcor from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $11.60 to $10.80 in a report on Wednesday, May 3rd. Finally, Jefferies Financial Group upgraded Amcor from an “underperform” rating to a “hold” rating in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.80.

About Amcor

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Amcor Plc operates as a holding company, which engages in the consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.