RBF Capital LLC trimmed its position in Amcor PLC (NYSE:AMCR – Free Report) by 81.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,787 shares of the company’s stock after selling 592,278 shares during the period. RBF Capital LLC’s holdings in Amcor were worth $5,318,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Amcor by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock valued at $2,596,000 after acquiring an additional 20,757 shares in the last quarter. Focus Partners Wealth raised its holdings in Amcor by 11.3% during the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after purchasing an additional 4,396 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Amcor during the second quarter worth about $138,000. Arrowstreet Capital Limited Partnership acquired a new stake in Amcor in the second quarter valued at about $6,426,000. Finally, CW Advisors LLC acquired a new stake in Amcor in the second quarter valued at about $228,000. 45.14% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AMCR has been the topic of several recent analyst reports. Bank of America boosted their target price on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Jefferies Financial Group set a $44.92 price target on Amcor and gave the company a “hold” rating in a report on Tuesday, July 21st. Truist Financial restated a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. BMO Capital Markets initiated coverage on Amcor in a report on Thursday, July 16th. They set a “market perform” rating and a $47.00 price objective on the stock. Finally, Wells Fargo & Company set a $43.00 price objective on Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.08.
Amcor Stock Down 1.8%
Shares of NYSE AMCR opened at $45.87 on Thursday. The stock has a market capitalization of $21.21 billion, a price-to-earnings ratio of 32.08, a price-to-earnings-growth ratio of 1.46 and a beta of 0.62. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The firm has a 50-day moving average price of $41.62 and a 200 day moving average price of $42.30. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30.
Amcor (NYSE:AMCR – Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The firm’s revenue for the quarter was up 77.4% compared to the same quarter last year. Equities research analysts anticipate that Amcor PLC will post 3.97 EPS for the current fiscal year.
Amcor Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were issued 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 5.7%. Amcor’s dividend payout ratio is currently 181.82%.
About Amcor
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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