EP Wealth Advisors LLC Makes New $636,000 Investment in Amcor plc (NYSE:AMCR)

EP Wealth Advisors LLC acquired a new position in shares of Amcor plc (NYSE:AMCR - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 56,157 shares of the company's stock, valued at approximately $636,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock worth $27,000 after buying an additional 2,319 shares during the period. Rise Advisors LLC acquired a new position in shares of Amcor during the 3rd quarter worth about $35,000. ORG Wealth Partners LLC acquired a new position in shares of Amcor during the 3rd quarter worth about $35,000. True Wealth Design LLC grew its position in shares of Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock worth $38,000 after buying an additional 3,225 shares during the period. Finally, UMB Bank n.a. grew its position 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 buying an additional 1,299 shares during the period. 45.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AMCR shares. Citigroup boosted 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. Wells Fargo & Company boosted their price objective on Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a research report on Tuesday, October 15th. Bank of America upgraded Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective for the company in a research report on Wednesday. Macquarie upgraded Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Finally, Robert W. Baird boosted their price objective on Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $11.20.

Amcor Stock Down 0.3 %

NYSE:AMCR traded down $0.03 during trading hours on Thursday, reaching $9.99. 15,015,438 shares of the stock were exchanged, compared to its average volume of 9,612,750. Amcor plc has a twelve month low of $8.78 and a twelve month high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The firm has a 50 day moving average of $10.65 and a 200 day moving average of $10.52. The stock has a market cap of $14.44 billion, a PE ratio of 18.89, a PEG ratio of 1.83 and a beta of 0.82.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm posted $0.16 EPS. The business's revenue was down 2.6% on a year-over-year basis. On average, equities analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were given a dividend of $0.1275 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 5.11%. This is an increase from Amcor's previous quarterly dividend of $0.13. Amcor's dividend payout ratio is 96.23%.

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.