FNY Investment Advisers LLC Sells 28,000 Shares of Amcor plc (NYSE:AMCR)

FNY Investment Advisers LLC decreased its position in shares of Amcor plc (NYSE:AMCR) by 77.8% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,000 shares of the company’s stock after selling 28,000 shares during the quarter. FNY Investment Advisers LLC’s holdings in Amcor were worth $77,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Amcor by 4.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 81,433 shares of the company’s stock valued at $761,000 after acquiring an additional 3,751 shares in the last quarter. Van ECK Associates Corp bought a new stake in Amcor during the 4th quarter valued at approximately $2,605,000. Asset Management One Co. Ltd. lifted its holdings in Amcor by 9.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 567,573 shares of the company’s stock worth $5,358,000 after purchasing an additional 47,348 shares in the last quarter. Kestra Investment Management LLC boosted its stake in Amcor by 23.5% in the 4th quarter. Kestra Investment Management LLC now owns 23,916 shares of the company’s stock worth $225,000 after purchasing an additional 4,547 shares during the period. Finally, Cardinal Capital Management grew its holdings in Amcor by 1.9% during the 4th quarter. Cardinal Capital Management now owns 119,305 shares of the company’s stock valued at $1,123,000 after buying an additional 2,211 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

AMCR has been the topic of several research analyst reports. Truist Financial lowered their target price on shares of Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Raymond James started coverage on shares of Amcor in a research note on Tuesday, April 22nd. They issued a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.31.

Amcor Trading Up 1.0%

Shares of AMCR opened at $9.19 on Tuesday. The stock has a market capitalization of $13.29 billion, a PE ratio of 16.71, a P/E/G ratio of 1.96 and a beta of 0.73. The company’s fifty day moving average is $9.23 and its 200 day moving average is $9.59. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor plc has a fifty-two week low of $8.37 and a fifty-two week high of $11.48.

Amcor (NYSE:AMCR) last posted its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.51 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 EPS. Sell-side analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were given a dividend of $0.1275 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.55%. Amcor’s dividend payout ratio (DPR) is presently 91.07%.

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.