Commerzbank Aktiengesellschaft FI reduced its holdings in Amcor PLC (NYSE:AMCR – Free Report) by 70.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 43,141 shares of the company’s stock after selling 101,746 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Amcor were worth $1,715,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. N.E.W. Advisory Services LLC grew its holdings in Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after acquiring an additional 373 shares during the period. CYBER HORNET ETFs LLC boosted its position in shares of Amcor by 11.1% in the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock worth $37,000 after purchasing an additional 447 shares during the last quarter. FineMark National Bank & Trust boosted its position in shares of Amcor by 0.6% in the 4th quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock worth $671,000 after purchasing an additional 503 shares during the last quarter. United Asset Strategies Inc. boosted its position in shares of Amcor by 1.6% in 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 first quarter worth $25,000. 45.14% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently commented on AMCR. JPMorgan Chase & Co. dropped their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Wells Fargo & Company set a $43.00 target price on Amcor and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. Bank of America upped their price target on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Jefferies Financial Group set a $44.92 price target on shares of Amcor in a research report on Tuesday. Finally, Truist Financial reissued a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.08.
Amcor Trading Up 0.6%
Shares of NYSE:AMCR opened at $43.48 on Wednesday. Amcor PLC has a 12 month low of $36.25 and a 12 month 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. The company’s fifty day simple moving average is $40.79 and its 200 day simple moving average is $42.20. The firm has a market cap of $20.10 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.36 and a beta of 0.62.
Amcor (NYSE:AMCR – Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates 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 net margin of 3.06% and a return on equity of 14.55%. The company’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 business earned $0.90 EPS. As a group, research analysts forecast 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. Stockholders of record on Thursday, May 28th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date was Thursday, May 28th. Amcor’s payout ratio is 181.82%.
Amcor Profile
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.
Further Reading
- Five stocks we like better than Amcor
- Confidence Is Back, But Earnings Show the Consumer Is Being Picky
- AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off
- 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative?
- 3 Photonics Companies Making Quantum Tech Possible
Want to see what other hedge funds are holding AMCR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amcor PLC (NYSE:AMCR – Free Report).
Receive News & Ratings for Amcor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amcor and related companies with MarketBeat.com's FREE daily email newsletter.
