Amcor PLC (NYSE:AMCR) Stake Reduced by Blackhawk Capital Partners LLC.

Blackhawk Capital Partners LLC. trimmed its holdings in Amcor PLC (NYSE:AMCR - Free Report) by 19.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 183,960 shares of the company's stock after selling 45,038 shares during the period. Blackhawk Capital Partners LLC.'s holdings in Amcor were worth $1,784,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. UMB Bank n.a. grew its position in shares of Amcor by 20.0% during the first quarter. UMB Bank n.a. now owns 6,386 shares of the company's stock worth $62,000 after buying an additional 1,066 shares in the last quarter. Koshinski Asset Management Inc. grew its position in shares of Amcor by 10.1% during the first quarter. Koshinski Asset Management Inc. now owns 13,659 shares of the company's stock worth $132,000 after buying an additional 1,252 shares in the last quarter. Virtue Capital Management LLC grew its position in shares of Amcor by 2.8% during the fourth quarter. Virtue Capital Management LLC now owns 45,924 shares of the company's stock worth $432,000 after buying an additional 1,259 shares in the last quarter. Utah Retirement Systems grew its position in shares of Amcor by 1.1% during the fourth quarter. Utah Retirement Systems now owns 120,076 shares of the company's stock worth $1,130,000 after buying an additional 1,300 shares in the last quarter. Finally, Private Trust Co. NA grew its position in shares of Amcor by 5.1% during the first quarter. Private Trust Co. NA now owns 27,301 shares of the company's stock worth $265,000 after buying an additional 1,315 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Stock Performance

Shares of AMCR traded up $0.02 during midday trading on Thursday, hitting $9.82. 19,054,337 shares of the stock traded hands, compared to its average volume of 21,081,360. Amcor PLC has a 1-year low of $8.37 and a 1-year high of $11.48. The firm has a market capitalization of $14.20 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 2.37 and a beta of 0.73. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70. The business's 50 day moving average price is $9.23 and its two-hundred day moving average price is $9.52.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, meeting analysts' consensus estimates of $0.18. Amcor had a net margin of 5.99% and a return on equity of 26.49%. The business had revenue of $3.33 billion for the quarter, compared to analysts' expectations of $3.51 billion. During the same period in the previous year, the business earned $0.13 earnings per share. The company's revenue was down 2.3% on a year-over-year basis. Equities research analysts predict that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were given a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.19%. The ex-dividend date was Thursday, May 22nd. Amcor's dividend payout ratio (DPR) is presently 91.07%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMCR. Jefferies Financial Group began coverage on shares of Amcor in a research report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price target for the company. Wells Fargo & Company started coverage on shares of Amcor in a report on Thursday, June 26th. They issued an "overweight" rating and a $10.00 price objective for the company. UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Raymond James Financial started coverage on shares of Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating for the company. Finally, Truist Financial decreased their price objective on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.37.

About Amcor

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.