SG Americas Securities LLC Sells 1,780,678 Shares of Amcor PLC $AMCR

SG Americas Securities LLC reduced its stake in shares of Amcor PLC (NYSE:AMCR) by 84.9% during the first quarter, Holdings Channel reports. The firm owned 315,915 shares of the company’s stock after selling 1,780,678 shares during the quarter. SG Americas Securities LLC’s holdings in Amcor were worth $12,558,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Amcor by 8.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock worth $2,596,000 after purchasing an additional 20,757 shares during the period. Focus Partners Wealth raised its stake in Amcor by 11.3% in the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after buying an additional 4,396 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Amcor in the second quarter worth about $138,000. Arrowstreet Capital Limited Partnership purchased a new stake in Amcor in the second quarter worth about $6,426,000. Finally, CW Advisors LLC purchased a new stake in Amcor in the second quarter worth about $228,000. 45.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AMCR shares. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. lowered their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company set a $41.00 price target on Amcor and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. Truist Financial reaffirmed a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Finally, Citigroup decreased their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

Amcor Trading Up 0.6%

Shares of NYSE AMCR opened at $43.11 on Friday. 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 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The firm has a 50-day moving average of $39.45 and a 200 day moving average of $41.94. The stock has a market cap of $19.93 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the company earned $0.90 earnings per share. The business’s revenue was up 77.4% compared to the same quarter last year. As a group, sell-side analysts expect that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were paid a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 6.0%. Amcor’s dividend payout ratio is presently 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.