Seven Six Capital Management LLC Sells 698,197 Shares of Amcor PLC $AMCR

Seven Six Capital Management LLC trimmed its stake in Amcor PLC (NYSE:AMCRFree Report) by 75.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 222,840 shares of the company’s stock after selling 698,197 shares during the quarter. Amcor makes up 9.4% of Seven Six Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Seven Six Capital Management LLC’s holdings in Amcor were worth $8,858,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. N.E.W. Advisory Services LLC boosted its stake in shares of Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after acquiring an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC lifted its holdings in Amcor by 11.1% in the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock valued at $37,000 after purchasing an additional 447 shares in the last quarter. FineMark National Bank & Trust lifted its holdings in Amcor by 0.6% in the 4th quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock valued at $671,000 after purchasing an additional 503 shares in the last quarter. United Asset Strategies Inc. boosted its stake in shares of Amcor by 1.6% during the 4th quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock worth $321,000 after purchasing an additional 597 shares during the last quarter. Finally, AdvisorNet Financial Inc acquired a new stake in shares of Amcor during the 1st quarter worth about $25,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Stock Performance

NYSE:AMCR opened at $45.87 on Thursday. The company has a market cap of $21.21 billion, a P/E ratio of 32.08, a P/E/G ratio of 1.46 and a beta of 0.62. The firm’s 50 day moving average is $41.62 and its two-hundred day moving average is $42.30. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. 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:AMCRGet Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 EPS. Analysts expect that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 5.7%. Amcor’s dividend payout ratio is currently 181.82%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMCR. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. 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 for the company. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective on the stock. Jefferies Financial Group set a $44.92 price objective on Amcor and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, Truist Financial reiterated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $48.08.

Check Out Our Latest Analysis 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.

See Also

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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