Amundi Decreases Holdings in Amcor PLC $AMCR

Amundi reduced its stake in Amcor PLC (NYSE:AMCR - Free Report) by 68.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,015,438 shares of the company's stock after selling 4,304,560 shares during the period. Amundi owned approximately 0.44% of Amcor worth $80,114,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. PFG Investments LLC purchased a new stake in shares of Amcor during the fourth quarter valued at approximately $262,000. Vanguard Group Inc. boosted its stake in shares of Amcor by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company's stock valued at $945,222,000 after purchasing an additional 1,845,627 shares during the period. Code Waechter LLC grew its holdings in Amcor by 105.1% during the 4th quarter. Code Waechter LLC now owns 54,113 shares of the company's stock valued at $451,000 after purchasing an additional 27,725 shares in the last quarter. Mountain Hill Investment Partners Corp. grew its holdings in Amcor by 22.4% during the 4th quarter. Mountain Hill Investment Partners Corp. now owns 858,620 shares of the company's stock valued at $7,161,000 after purchasing an additional 157,300 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in Amcor during the 4th quarter worth $459,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Performance

Shares of AMCR stock opened at $44.96 on Friday. The stock has a market capitalization of $20.79 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 1.41 and a beta of 0.62. Amcor PLC has a one year low of $36.25 and a one year high of $50.94. The company's 50-day simple moving average is $41.89 and its 200-day simple moving average is $42.33. 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 announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the company earned $0.90 earnings per share. Amcor's quarterly revenue was up 77.4% on a year-over-year basis. Equities analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on AMCR shares. Jefferies Financial Group set a $44.92 price objective on shares of Amcor and gave the stock a "hold" rating in a report on Tuesday, July 21st. Bank of America raised their target price on Amcor from $48.00 to $51.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Wells Fargo & Company set a $43.00 target price on Amcor and gave the stock an "equal weight" rating in a research report on Wednesday, July 15th. Truist Financial reissued a "buy" rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lowered their price objective on Amcor from $50.00 to $44.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Amcor presently has an average rating of "Moderate Buy" and an average target price of $48.08.

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.

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