HORAN Wealth LLC lowered its stake in shares of Amcor PLC (NYSE:AMCR – Free Report) by 18.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,260 shares of the company’s stock after selling 21,524 shares during the quarter. HORAN Wealth LLC’s holdings in Amcor were worth $3,999,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMCR. Brown Financial Advisors raised its stake in shares of Amcor by 3.9% in the second quarter. Brown Financial Advisors now owns 6,287 shares of the company’s stock worth $273,000 after purchasing an additional 237 shares during the last quarter. California State Teachers Retirement System purchased a new stake in Amcor during the second quarter worth $1,590,375,000. Alan B Lancz & Associates Inc. grew its position in shares of Amcor by 26.7% during the 2nd quarter. Alan B Lancz & Associates Inc. now owns 11,853 shares of the company’s stock valued at $514,000 after acquiring an additional 2,500 shares during the period. Guardian Wealth Management Inc. raised its stake in shares of Amcor by 3.8% during the 2nd quarter. Guardian Wealth Management Inc. now owns 51,859 shares of the company’s stock worth $2,248,000 after buying an additional 1,876 shares during the period. Finally, HB Wealth Management LLC increased its holdings in Amcor by 4.4% in the 2nd quarter. HB Wealth Management LLC now owns 28,223 shares of the company’s stock worth $1,223,000 after acquiring an additional 1,191 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.
Wall Street Analyst Weigh In
AMCR has been the subject of a number of research analyst reports. Truist Financial set a $51.00 target price on Amcor in a report on Tuesday, August 18th. Citigroup reiterated a “buy” rating and issued a $52.00 target price (up from $47.00) on shares of Amcor in a report on Friday, August 14th. UBS Group initiated coverage on Amcor in a report on Tuesday, August 11th. They set a “buy” rating and a $56.00 price target for the company. BMO Capital Markets began coverage on shares of Amcor in a report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 target price for the company. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $47.00 target price (up from $44.00) on shares of Amcor in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Amcor has an average rating of “Moderate Buy” and a consensus target price of $49.49.
Amcor Stock Up 0.0%
Shares of NYSE AMCR opened at $45.17 on Monday. The business has a 50-day moving average of $45.39 and a two-hundred day moving average of $42.56. The company has a market capitalization of $20.88 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 2.47 and a beta of 0.60. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.25 and a quick ratio of 0.76.
Amcor (NYSE:AMCR – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. Amcor had a return on equity of 15.92% and a net margin of 4.71%.The firm had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.05 billion. During the same period in the prior year, the company posted $0.20 earnings per share. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, analysts forecast that Amcor PLC will post 1.84 earnings per share for the current fiscal year.
Amcor Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Friday, September 4th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, September 4th. Amcor’s payout ratio is presently 110.17%.
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.
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