Amcor PLC $AMCR is Seven Six Capital Management LLC’s 3rd Largest Position

Seven Six Capital Management LLC lifted its holdings in shares of Amcor PLC (NYSE:AMCRFree Report) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 921,037 shares of the company’s stock after acquiring an additional 16,500 shares during the period. Amcor makes up 7.7% of Seven Six Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Seven Six Capital Management LLC’s holdings in Amcor were worth $7,681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dakota Wealth Management increased its position in shares of Amcor by 74.6% during the fourth quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock valued at $2,881,000 after acquiring an additional 147,639 shares during the last quarter. PFG Investments LLC purchased a new stake in shares of Amcor during the fourth quarter valued at approximately $262,000. Vanguard Group Inc. increased its position in shares of Amcor by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after acquiring an additional 1,845,627 shares during the last quarter. Code Waechter LLC increased its position in shares of Amcor by 105.1% during the fourth quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock valued at $451,000 after acquiring an additional 27,725 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Amcor by 64.0% during the fourth quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock valued at $2,034,000 after acquiring an additional 94,753 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Truist Financial reaffirmed a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup reduced their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

Check Out Our Latest Report on Amcor

Amcor Price Performance

Shares of NYSE AMCR opened at $41.45 on Wednesday. The stock has a fifty day simple moving average of $39.35 and a two-hundred day simple moving average of $41.99. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The firm has a market cap of $19.16 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 1.24 and a beta of 0.64. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30.

Amcor (NYSE:AMCRGet Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the company earned $0.90 earnings per share. Amcor’s revenue was up 77.4% compared to the same quarter last year. Analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be given a $0.65 dividend. The ex-dividend date is Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 6.3%. Amcor’s payout ratio is 181.82%.

Amcor Profile

(Free Report)

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.

Further Reading

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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