Amcor PLC $AMCR Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC lessened its stake in shares of Amcor PLC (NYSE:AMCR) by 76.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,683 shares of the company’s stock after selling 18,229 shares during the quarter. Procyon Advisors LLC’s holdings in Amcor were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC boosted its stake in shares of 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 purchasing an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC raised its position in shares of Amcor by 11.1% in the fourth quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock valued at $37,000 after buying an additional 447 shares during the last quarter. FineMark National Bank & Trust lifted its stake in shares of Amcor by 0.6% during the fourth quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock valued at $671,000 after buying an additional 503 shares during the period. United Asset Strategies Inc. lifted its stake in shares of Amcor by 1.6% during the fourth quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock valued at $321,000 after buying an additional 597 shares during the period. Finally, AdvisorNet Financial Inc acquired a new stake in Amcor during the first quarter worth approximately $25,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Up 3.4%

Shares of AMCR opened at $44.88 on Friday. The stock’s fifty day simple moving average is $40.57 and its 200 day simple moving average is $42.17. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $20.75 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 1.36 and a beta of 0.62.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. The company had revenue of $5.91 billion for 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 company’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same period last year, the business posted $0.90 EPS. On average, equities research analysts forecast that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were issued a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 5.8%. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. BMO Capital Markets assumed coverage on Amcor in a research note on Thursday. They set a “market perform” rating and a $47.00 price target on the stock. Citigroup decreased their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Bank of America lifted their price objective on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Amcor has an average rating of “Moderate Buy” and a consensus target price of $48.40.

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.