Amcor PLC $AMCR Holdings Cut by SVB Wealth LLC

Key Points

• SVB Wealth LLC sharply reduced its Amcor stake by 87.4% in the first quarter, selling more than 409,000 shares and leaving it with 59,021 shares worth about $2.35 million.
• Amcor reported quarterly EPS of $0.96, in line with estimates, while revenue came in at $5.91 billion, topping analyst expectations of $5.71 billion.
• The company paid a quarterly dividend of $0.65 per share, equal to an annualized yield of about 6.4%, though the payout ratio is high at 181.82%.

SVB Wealth LLC reduced its stake in Amcor PLC (NYSE:AMCR - Free Report) by 87.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,021 shares of the company's stock after selling 409,178 shares during the period. SVB Wealth LLC's holdings in Amcor were worth $2,346,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. N.E.W. Advisory Services LLC lifted 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 during the last quarter. CYBER HORNET ETFs LLC grew its stake in Amcor by 11.1% during the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company's stock worth $37,000 after buying an additional 447 shares during the last quarter. FineMark National Bank & Trust increased its position in Amcor by 0.6% in 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 during the period. United Asset Strategies Inc. lifted its stake in Amcor by 1.6% in 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 last quarter. Finally, Alternative Investment Advisors LLC. lifted its stake in Amcor by 6.3% in the fourth quarter. Alternative Investment Advisors LLC. now owns 11,268 shares of the company's stock valued at $94,000 after buying an additional 671 shares during the last quarter. 45.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AMCR shares. Weiss Ratings upgraded shares of Amcor from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Citigroup cut their price objective on shares of Amcor from $54.00 to $47.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the company an "equal weight" rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. decreased their target price on shares of Amcor from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Amcor in a research note on Wednesday, April 1st. They issued a "buy" rating and a $50.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Amcor presently has an average rating of "Moderate Buy" and an average price target of $49.33.

Amcor Trading Down 0.9%

Shares of AMCR stock opened at $40.70 on Tuesday. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The firm has a market capitalization of $18.82 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 1.24 and a beta of 0.64. The stock has a fifty day moving average of $39.36 and a two-hundred day moving average of $41.94. 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting analysts' consensus estimates of $0.96. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates 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 company earned $0.90 earnings per share. As a group, research analysts expect that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

The business 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. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.4%. Amcor's dividend payout ratio (DPR) is presently 181.82%.

About Amcor

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.

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