Sequoia Financial Advisors LLC Sells 54,792 Shares of Amcor PLC $AMCR

Sequoia Financial Advisors LLC lessened its position in shares of Amcor PLC (NYSE:AMCR) by 91.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,278 shares of the company’s stock after selling 54,792 shares during the period. Sequoia Financial Advisors LLC’s holdings in Amcor were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. N.E.W. Advisory Services LLC raised its position in Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after purchasing an additional 373 shares in the last quarter. CYBER HORNET ETFs LLC boosted its holdings in shares of Amcor by 11.1% in the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock valued at $37,000 after purchasing an additional 447 shares in the last quarter. FineMark National Bank & Trust boosted its holdings in shares of Amcor by 0.6% in the 4th quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock valued at $671,000 after purchasing an additional 503 shares in the last quarter. United Asset Strategies Inc. increased its stake in shares of Amcor by 1.6% in the 4th quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock valued at $321,000 after purchasing an additional 597 shares during the last quarter. Finally, AdvisorNet Financial Inc bought a new position in shares of Amcor in the 1st quarter valued at $25,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AMCR. JPMorgan Chase & Co. lowered their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Wells Fargo & Company set a $43.00 price objective on Amcor and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price on the stock. Truist Financial reissued a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Finally, Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Amcor has a consensus rating of “Moderate Buy” and a consensus target price of $48.08.

Amcor Stock Up 4.6%

NYSE:AMCR opened at $44.60 on Friday. Amcor PLC has a one year low of $36.25 and a one 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 company has a market cap of $20.62 billion, a PE ratio of 31.19, a P/E/G ratio of 1.34 and a beta of 0.62. The firm’s 50 day simple moving average is $41.11 and its 200 day simple moving average is $42.23.

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

Amcor Announces Dividend

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

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.