Amcor PLC $AMCR Position Trimmed by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Amcor stake by 62.2% in the third quarter, selling 144,630 shares and retaining 87,773 shares valued at approximately $3.67 million. Institutional investors collectively own 45.14% of Amcor.
• Amcor reported quarterly earnings of $1.23 per share, exceeding estimates of $1.19, while revenue rose 25.9% year over year to $6.40 billion. Analysts expect full-year earnings of $1.84 per share.
• Amcor announced a quarterly dividend of $0.65, equivalent to an annualized $2.60 payout and a 6.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $49.36, above the reported $43.63 share price.

Curated Wealth Partners LLC lowered its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 62.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,773 shares of the company's stock after selling 144,630 shares during the quarter. Curated Wealth Partners LLC's holdings in Amcor were worth $3,674,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMCR. Bangor Savings Bank bought a new position in Amcor during the second quarter valued at $26,000. AdvisorNet Financial Inc bought a new position in Amcor in the 1st quarter worth about $25,000. Western Wealth Management LLC purchased a new stake in shares of Amcor in the first quarter valued at approximately $27,000. Palladiem LLC bought a new position in Amcor in the first quarter worth approximately $34,000. Finally, Fortitude Family Office LLC grew its stake in Amcor by 216.9% in the third quarter. Fortitude Family Office LLC now owns 954 shares of the company's stock worth $40,000 after purchasing an additional 653 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Price Performance

AMCR stock traded up $1.35 during trading on Thursday, hitting $43.63. The stock had a trading volume of 1,299,567 shares, compared to its average volume of 4,566,177. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The company's 50-day moving average price is $44.31 and its two-hundred day moving average price is $42.20. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.25 and a quick ratio of 0.76. The stock has a market capitalization of $20.17 billion, a P/E ratio of 18.49, a PEG ratio of 2.59 and a beta of 0.58.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.19 by $0.04. Amcor had a return on equity of 15.92% and a net margin of 4.71%. The firm had revenue of $6.40 billion during the quarter, compared to analysts' expectations of $6.05 billion. During the same period in the previous year, the business earned $0.20 earnings per share. The firm's revenue for the quarter was up 25.9% on a year-over-year basis. As a group, research analysts predict that Amcor PLC will post 1.84 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Friday, September 4th were given a $0.65 dividend. The ex-dividend date was Friday, September 4th. This represents a $2.60 dividend on an annualized basis and a yield of 6.0%. Amcor's payout ratio is currently 110.17%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMCR shares. UBS Group started coverage on shares of Amcor in a report on Tuesday, August 11th. They set a "buy" rating and a $56.00 target price on the stock. Citigroup reaffirmed a "buy" rating and issued a $52.00 price objective (up from $47.00) on shares of Amcor in a research report on Friday, August 14th. Truist Financial set a $51.00 price target on shares of Amcor in a report on Tuesday, August 18th. Bank of America boosted their price target on Amcor from $48.00 to $51.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Finally, Wells Fargo & Company increased their price target on shares of Amcor from $43.00 to $44.00 and gave the stock an "equal weight" rating in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $49.36.

Amcor Company Profile

Amcor plc NYSE: AMCR is a global packaging company that develops and produces packaging for food, beverages, pharmaceutical and medical products, personal care items, household goods and other consumer and industrial applications. Its portfolio includes flexible packaging, rigid containers, films, laminates, bags, bottles, closures, cartons and specialty packaging solutions.

The company works with brand owners and manufacturers to design packaging that supports product protection, shelf life, convenience and presentation.

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