Quantum Portfolio Management LLC Sells 60,514 Shares of Amcor PLC $AMCR

Quantum Portfolio Management LLC decreased its holdings in shares of Amcor PLC (NYSE:AMCR – Free Report) by 62.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,878 shares of the company’s stock after selling 60,514 shares during the quarter. Quantum Portfolio Management LLC’s holdings in Amcor were worth $1,466,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AdvisorNet Financial Inc bought a new position in shares of Amcor in the 1st quarter worth $25,000. Root Financial Partners LLC bought a new stake in shares of Amcor during the 1st quarter worth $41,000. American Capital Advisory LLC purchased a new position in Amcor in the first quarter worth $44,000. CENTRAL TRUST Co bought a new position in Amcor in the first quarter valued at $49,000. Finally, Ascentis Independent Advisors bought a new position in Amcor in the first quarter valued at $85,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

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Amcor Trading Down 5.7%

Shares of AMCR stock opened at $41.91 on Thursday. The business has a 50-day moving average of $40.01 and a 200 day moving average of $42.09. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The stock has a market capitalization of $19.38 billion, a PE ratio of 29.31, a P/E/G ratio of 1.25 and a beta of 0.62.

Amcor (NYSE:AMCR – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The business’s quarterly revenue was up 77.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. As a group, sell-side analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were given a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.2%. Amcor’s payout ratio is presently 181.82%.

Analyst Ratings Changes

AMCR has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note 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. Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price for the company. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Citigroup cut their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.00.

View Our Latest Stock Report on Amcor

About Amcor

(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.

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