Commerzbank Aktiengesellschaft FI Has $1.72 Million Stock Holdings in Amcor PLC $AMCR

Key Points

• Commerzbank Aktiengesellschaft FI sharply reduced its Amcor stake in the first quarter, cutting holdings by 70.2% to 43,141 shares valued at about $1.72 million.
• Amcor reported solid quarterly results, matching EPS expectations at $0.96 and posting revenue of $5.91 billion, above analyst estimates; revenue was up 77.4% year over year.
• The company continues to attract income-focused investors, with a quarterly dividend of $0.65 per share, a 6.0% annualized yield, and a Wall Street consensus rating of “Moderate Buy” with an average price target of $48.08.

Commerzbank Aktiengesellschaft FI decreased its position in Amcor PLC (NYSE:AMCR - Free Report) by 70.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 43,141 shares of the company's stock after selling 101,746 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Amcor were worth $1,715,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. N.E.W. Advisory Services LLC boosted its position in Amcor by 10.1% in 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 increased its holdings in shares of Amcor by 11.1% during the fourth quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company's stock worth $37,000 after buying an additional 447 shares in the last quarter. FineMark National Bank & Trust increased its holdings in shares of Amcor by 0.6% during the fourth quarter. FineMark National Bank & Trust now owns 80,503 shares of the company's stock worth $671,000 after buying an additional 503 shares in the last quarter. United Asset Strategies Inc. boosted its holdings in shares of Amcor by 1.6% in the 4th quarter. United Asset Strategies Inc. now owns 38,453 shares of the company's stock worth $321,000 after acquiring an additional 597 shares in the last quarter. Finally, AdvisorNet Financial Inc bought a new stake in Amcor during the 1st quarter worth approximately $25,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Stock Up 0.6%

Shares of AMCR opened at $43.48 on Wednesday. The business's fifty day moving average price is $40.79 and its two-hundred day moving average price is $42.20. The firm has a market capitalization of $20.10 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.36 and a beta of 0.62. 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.

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

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor's payout ratio is currently 181.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AMCR shares. Truist Financial reiterated a "buy" rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a report on Wednesday, April 1st. They set a "buy" rating and a $50.00 target price on the stock. Citigroup cut 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. JPMorgan Chase & Co. decreased their price objective on shares of Amcor from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Finally, Wells Fargo & Company set a $43.00 target price on shares of Amcor and gave the stock an "equal weight" rating in a research note on Wednesday, July 15th. One 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.com, Amcor currently has a consensus rating of "Moderate Buy" and an average price target of $48.08.

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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