Shayne & Jacobs LLC Lowers Stake in Amcor PLC $AMCR

Shayne & Jacobs LLC cut its holdings in shares of Amcor PLC (NYSE:AMCR) by 80.0% during the first quarter, Holdings Channel.com reports. The fund owned 25,813 shares of the company’s stock after selling 103,288 shares during the period. Shayne & Jacobs LLC’s holdings in Amcor were worth $1,026,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AdvisorNet Financial Inc acquired a new position in Amcor in the 1st quarter worth about $25,000. DV Equities LLC acquired a new stake in Amcor in the fourth quarter valued at approximately $27,000. Brown Lisle Cummings Inc. increased its position in shares of Amcor by 137.9% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after buying an additional 2,000 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Amcor by 46.1% in the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after buying an additional 1,257 shares in the last quarter. Finally, N.E.W. Advisory Services LLC increased its position 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 buying an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE:AMCR traded up $0.20 during trading on Tuesday, reaching $44.82. The stock had a trading volume of 435,124 shares, compared to its average volume of 5,176,395. 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 PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The stock has a market cap of $20.72 billion, a PE ratio of 31.33, a PEG ratio of 1.27 and a beta of 0.62. The business has a fifty day moving average price of $39.75 and a 200-day moving average price of $42.05.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm’s revenue was up 77.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. On average, equities analysts forecast that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.8%. Amcor’s dividend payout ratio is presently 181.82%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMCR. Truist Financial reiterated a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Wells Fargo & Company set a $41.00 price target on shares of Amcor and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. Citigroup reduced their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. decreased their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Amcor Company 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.