Inceptionr LLC Lowers Stock Holdings in Amcor PLC $AMCR

Inceptionr LLC lessened its holdings in shares of Amcor PLC (NYSE:AMCR) by 88.0% during the 1st quarter, Holdings Channel reports. The firm owned 14,846 shares of the company’s stock after selling 109,083 shares during the period. Inceptionr LLC’s holdings in Amcor were worth $590,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc purchased a new position in Amcor in the 1st quarter valued at approximately $25,000. DV Equities LLC acquired a new stake in shares of Amcor in the fourth quarter valued at $27,000. Brown Lisle Cummings Inc. raised its stake 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 acquiring an additional 2,000 shares in the last quarter. Larson Financial Group LLC boosted its holdings in 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 purchasing an additional 1,257 shares during the period. Finally, N.E.W. Advisory Services LLC grew its stake in 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 in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Up 4.6%

Shares of AMCR opened at $44.60 on Friday. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The company has a market capitalization of $20.62 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 1.40 and a beta of 0.62. The stock has a fifty day moving average of $41.11 and a two-hundred day moving average of $42.23. 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 (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. The company 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 business’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 EPS. As a group, analysts forecast that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target 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. Jefferies Financial Group set a $44.92 target price on shares of Amcor and gave the stock a “hold” rating in a research note on Tuesday. Truist Financial reissued a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. BMO Capital Markets initiated coverage on Amcor in a report on Thursday, July 16th. They set a “market perform” rating and a $47.00 price target for the company. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.08.

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.