Balefire LLC Has $481,000 Holdings in Amcor PLC $AMCR

Key Points

• Balefire LLC sharply reduced its Amcor stake in the first quarter, cutting holdings by 73.8% to 12,102 shares worth about $481,000.
• Amcor reported mixed but solid quarterly results, matching EPS estimates at $0.96 and posting revenue of $5.91 billion, above expectations. Analysts now expect the company to earn 3.97 EPS for the current fiscal year.
• The stock offers a high dividend yield, with Amcor paying a quarterly dividend of $0.65 per share, or $2.60 annually, for a 6.0% yield. However, the payout ratio is high at 181.82%.

Balefire LLC cut its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 73.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,102 shares of the company's stock after selling 34,069 shares during the quarter. Balefire LLC's holdings in Amcor were worth $481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. AdvisorNet Financial Inc acquired a new position in shares of Amcor in the first quarter valued at approximately $25,000. DV Equities LLC bought a new position in Amcor during the 4th quarter worth approximately $27,000. Brown Lisle Cummings Inc. lifted its position in shares of Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company's stock worth $29,000 after purchasing an additional 2,000 shares during the period. Larson Financial Group LLC lifted its position in shares of Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company's stock worth $33,000 after purchasing an additional 1,257 shares during the period. Finally, N.E.W. Advisory Services LLC boosted its stake 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 valued at $34,000 after purchasing an additional 373 shares during the last quarter. Institutional investors own 45.14% of the company's stock.

Amcor Trading Down 1.6%

Shares of Amcor stock opened at $43.22 on Tuesday. The stock has a 50 day moving average price of $40.71 and a two-hundred day moving average price of $42.19. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The stock has a market capitalization of $19.98 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The business's revenue was up 77.4% on a year-over-year basis. As a group, equities analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed 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 was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.0%. Amcor's dividend payout ratio (DPR) is 181.82%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMCR. JPMorgan Chase & Co. decreased their price objective 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a "buy" rating and a $50.00 target price on the stock. Wells Fargo & Company set a $43.00 price target on Amcor and gave the stock an "equal weight" rating in a report on Wednesday, July 15th. Citigroup decreased their price target on Amcor from $54.00 to $47.00 and set a "buy" rating for the company in a report on Friday, May 8th. Finally, BMO Capital Markets initiated coverage on Amcor in a research note on Thursday. They issued a "market perform" rating and a $47.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.40.

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.

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