Cetera Investment Advisers Sells 563,220 Shares of Amcor PLC $AMCR

Key Points

• Cetera Investment Advisers cut its Amcor stake by 73.7% in the first quarter, selling 563,220 shares and retaining 201,185 shares valued at approximately $8.0 million. Institutional investors and hedge funds collectively own 45.14% of Amcor.
• Amcor reported quarterly EPS of $0.96, in line with estimates, while revenue of $5.91 billion exceeded expectations and rose 77.4% year over year. The company also declared a $0.65 quarterly dividend, equating to a 5.8% annualized yield.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $48.08 versus the stock’s reported $44.96 price.

Cetera Investment Advisers decreased its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 73.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 201,185 shares of the company's stock after selling 563,220 shares during the quarter. Cetera Investment Advisers' holdings in Amcor were worth $7,997,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. N.E.W. Advisory Services LLC raised its holdings in Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company's stock valued at $34,000 after buying an additional 373 shares in the last quarter. CYBER HORNET ETFs LLC boosted its stake in shares of 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 acquiring an additional 447 shares in the last quarter. FineMark National Bank & Trust increased its holdings in shares of Amcor by 0.6% during the 4th quarter. FineMark National Bank & Trust now owns 80,503 shares of the company's stock valued at $671,000 after acquiring an additional 503 shares during the last quarter. United Asset Strategies Inc. increased its holdings in shares of Amcor by 1.6% during the 4th quarter. United Asset Strategies Inc. now owns 38,453 shares of the company's stock valued at $321,000 after acquiring an additional 597 shares during the last quarter. Finally, AdvisorNet Financial Inc bought a new position in shares of Amcor in the 1st quarter valued at approximately $25,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Stock Performance

Amcor stock opened at $44.96 on Friday. The stock has a 50-day simple moving average of $41.89 and a 200 day simple moving average of $42.33. The stock has a market capitalization of $20.79 billion, a price-to-earnings ratio of 31.44, a P/E/G ratio of 1.42 and a beta of 0.62. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94.

Amcor (NYSE:AMCR - Get Free Report) last posted 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 net margin of 3.06% and a return on equity of 14.55%. The firm had revenue of $5.91 billion during the quarter, compared to analysts' expectations of $5.71 billion. During the same quarter last year, the company posted $0.90 EPS. The company's quarterly revenue was up 77.4% compared to the same quarter last year. On average, research 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. Investors of record on Thursday, May 28th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 5.8%. The ex-dividend date was Thursday, May 28th. Amcor's payout ratio is 181.82%.

Analyst Ratings Changes

A number of analysts have weighed in on AMCR shares. Weiss Ratings raised shares of Amcor from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. 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 upped their price objective on shares of Amcor from $48.00 to $51.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. BMO Capital Markets began coverage on shares of Amcor in a research note on Thursday, July 16th. They issued a "market perform" rating and a $47.00 target price for the company. Finally, Citigroup decreased their target price on Amcor from $54.00 to $47.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $48.08.

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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