192,385 Shares in Amcor PLC $AMCR Bought by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC purchased a new stake in Amcor PLC (NYSE:AMCR) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 192,385 shares of the company’s stock, valued at approximately $8,053,000.

Other large investors also recently made changes to their positions in the company. United Asset Strategies Inc. lifted its position in Amcor by 4.2% in the 3rd quarter. United Asset Strategies Inc. now owns 9,150 shares of the company’s stock valued at $383,000 after acquiring an additional 366 shares in the last quarter. Choreo LLC boosted its stake in Amcor by 2.5% in the 3rd quarter. Choreo LLC now owns 32,154 shares of the company’s stock worth $1,346,000 after purchasing an additional 789 shares during the period. D.A. Davidson & CO. boosted its stake in Amcor by 22.5% in the 3rd quarter. D.A. Davidson & CO. now owns 80,207 shares of the company’s stock worth $3,358,000 after purchasing an additional 14,712 shares during the period. North Dakota State Investment Board boosted its stake in Amcor by 3.2% in the 3rd quarter. North Dakota State Investment Board now owns 14,148 shares of the company’s stock worth $592,000 after purchasing an additional 442 shares during the period. Finally, Generali Asset Management SPA SGR bought a new position in Amcor during the 3rd quarter worth about $636,000. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of AMCR stock opened at $47.10 on Friday. The company’s fifty day simple moving average is $44.05 and its 200-day simple moving average is $43.04. The company has a quick ratio of 0.76, a current ratio of 1.25 and a debt-to-equity ratio of 1.17. The firm has a market cap of $21.77 billion, a PE ratio of 19.96, a P/E/G ratio of 2.85 and a beta of 0.58. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, August 13th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.19 by $0.04. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The business had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.05 billion. During the same quarter in the prior year, the company posted $0.20 earnings per share. The firm’s revenue was up 25.9% on a year-over-year basis. Equities research analysts expect that Amcor PLC will post 1.83 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Friday, September 4th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 5.5%. The ex-dividend date was Friday, September 4th. Amcor’s payout ratio is presently 110.17%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. downgraded Amcor from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $44.00 to $47.00 in a research note on Monday, August 17th. BMO Capital Markets started coverage on Amcor in a report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price target on the stock. Wells Fargo & Company upped their price objective on Amcor from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. Jefferies Financial Group set a $44.92 price objective on Amcor and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Finally, Bank of America increased their price objective on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Amcor currently has an average rating of “Moderate Buy” and a consensus price target of $49.36.

Amcor Profile

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging solutions for food, beverage, pharmaceutical, medical, personal care, household, and other consumer and industrial products. Its offerings include flexible packaging, rigid containers, closures, bottles, specialty cartons, and related packaging systems designed to protect products, support supply chains, and improve convenience and sustainability.

The company serves customers across North America, Latin America, Europe, Asia-Pacific, and other international markets.