Amcor PLC $AMCR Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC decreased its holdings in shares of Amcor PLC (NYSE:AMCR) by 84.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,355 shares of the company’s stock after selling 28,313 shares during the period. Private Advisor Group LLC’s holdings in Amcor were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in AMCR. N.E.W. Advisory Services LLC raised its holdings in shares of Amcor by 10.1% in 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 in the last quarter. CYBER HORNET ETFs LLC boosted its holdings in Amcor by 11.1% during the fourth quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock worth $37,000 after buying an additional 447 shares in the last quarter. FineMark National Bank & Trust boosted its holdings in Amcor by 0.6% during the fourth quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock worth $671,000 after buying an additional 503 shares in the last quarter. United Asset Strategies Inc. grew its position in Amcor by 1.6% in the fourth quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock worth $321,000 after buying an additional 597 shares during the last quarter. Finally, AdvisorNet Financial Inc acquired a new position in Amcor in the first quarter worth approximately $25,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analysts Set New Price Targets

AMCR has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. BMO Capital Markets began coverage on Amcor in a report on Thursday. They issued a “market perform” rating and a $47.00 target price on the stock. Citigroup cut their target price on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Truist Financial reaffirmed a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.40.

Amcor Stock Performance

Amcor stock opened at $43.96 on Monday. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The firm’s 50 day simple moving average is $40.65 and its 200-day simple moving average is $42.18. 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 company has a market cap of $20.32 billion, a P/E ratio of 30.74, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The firm’s quarterly revenue was up 77.4% on a year-over-year basis. As a group, equities research analysts predict that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend 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.