Swedbank AB lessened its stake in Amcor PLC (NYSE:AMCR – Free Report) by 80.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 8,543 shares of the company’s stock after selling 34,175 shares during the period. Swedbank AB’s holdings in Amcor were worth $340,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc bought a new stake in shares of Amcor in the 1st quarter worth approximately $25,000. DV Equities LLC acquired a new stake in shares of Amcor during the 4th quarter worth approximately $27,000. Brown Lisle Cummings Inc. increased its position in shares of Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares during the period. Larson Financial Group LLC increased its position in shares of Amcor by 46.1% during the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after purchasing an additional 1,257 shares during the period. Finally, N.E.W. Advisory Services LLC raised its stake in shares of Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after purchasing an additional 373 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts recently commented on AMCR shares. Truist Financial reaffirmed a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Citigroup dropped 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective 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, Wells Fargo & Company set a $41.00 price target on shares of Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.00.
Amcor Price Performance
AMCR stock traded up $0.48 during trading on Friday, hitting $43.18. The company had a trading volume of 2,267,386 shares, compared to its average volume of 3,111,503. The company has a fifty day moving average price of $40.21 and a two-hundred day moving average price of $42.11. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The company has a market cap of $19.96 billion, a P/E ratio of 30.19, a P/E/G ratio of 1.22 and a beta of 0.62. 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:AMCR – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The business’s revenue for the quarter was up 77.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 earnings per share. Equities research analysts expect that Amcor PLC will post 3.97 earnings per share for the current fiscal year.
Amcor Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.0%. Amcor’s dividend payout ratio (DPR) is 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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