HORAN Wealth LLC lessened its holdings in Amcor PLC (NYSE:AMCR – Free Report) by 72.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 113,784 shares of the company’s stock after selling 294,775 shares during the period. HORAN Wealth LLC’s holdings in Amcor were worth $4,523,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the business. Capital International Investors acquired a new position in shares of Amcor in the fourth quarter valued at $354,227,000. Norges Bank acquired a new stake in shares of Amcor during the 4th quarter worth about $308,724,000. AQR Capital Management LLC lifted its stake in shares of Amcor by 398.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after buying an additional 12,803,785 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Amcor during the 4th quarter worth about $103,713,000. Finally, Invesco Ltd. boosted its holdings in shares of Amcor by 29.9% during the 3rd quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after buying an additional 10,846,351 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.
Wall Street Analysts Forecast Growth
AMCR has been the topic of a number of research reports. Citigroup decreased their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wells Fargo & Company set a $43.00 price objective on Amcor and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. Bank of America upped their target price on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, BMO Capital Markets assumed coverage on Amcor in a research note on Thursday. They set a “market perform” rating and a $47.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.40.
Amcor Stock Down 1.6%
AMCR opened at $43.22 on Tuesday. The stock has a fifty day moving average of $40.71 and a 200-day moving average of $42.19. The company has a market capitalization of $19.98 billion, a P/E ratio of 30.22, a P/E/G ratio of 1.38 and a beta of 0.62. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44.
Amcor (NYSE:AMCR – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the prior year, the company posted $0.90 earnings per share. Amcor’s revenue was up 77.4% compared to the same quarter last year. On average, equities analysts expect that Amcor PLC will post 3.97 EPS for the current year.
Amcor Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were issued a $0.65 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 6.0%. Amcor’s 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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