Demars Financial Group LLC Has $520,000 Stock Holdings in Amcor PLC $AMCR

Key Points

• Demars Financial Group sharply reduced its Amcor stake by 77.6% in the first quarter, selling 45,425 shares and leaving it with 13,076 shares worth about $520,000.
• Amcor shares fell 5.7% in Thursday trading, with the stock opening at $41.91 amid a market cap of $19.38 billion.
• The company recently reported quarterly earnings that met EPS expectations and beat revenue estimates, while also paying a quarterly dividend of $0.65 per share, equal to a 6.2% yield.

Demars Financial Group LLC decreased its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 77.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,076 shares of the company's stock after selling 45,425 shares during the quarter. Demars Financial Group LLC's holdings in Amcor were worth $520,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. State Street Corp grew its stake in Amcor by 1.7% during the 4th quarter. State Street Corp now owns 141,509,581 shares of the company's stock valued at $1,180,190,000 after acquiring an additional 2,432,340 shares in the last quarter. M&G PLC lifted its position in shares of Amcor by 6.1% in the fourth quarter. M&G PLC now owns 114,989,595 shares of the company's stock worth $919,917,000 after purchasing an additional 6,655,611 shares in the last quarter. Vanguard Group Inc. lifted its position 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 worth $945,222,000 after purchasing an additional 1,845,627 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amcor by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company's stock worth $701,356,000 after purchasing an additional 2,036,667 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Amcor by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company's stock worth $533,487,000 after purchasing an additional 262,418 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Trading Down 5.7%

Shares of NYSE AMCR opened at $41.91 on Thursday. The stock has a market cap of $19.38 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 1.25 and a beta of 0.62. The business has a 50 day simple moving average of $40.01 and a 200 day simple moving average of $42.09. 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 quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts' consensus estimates of $0.96. The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm's revenue was up 77.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 earnings per share. On average, research analysts predict that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders 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 dividend yield of 6.2%. Amcor's dividend payout ratio is 181.82%.

Analysts Set New Price Targets

AMCR has been the topic of several research reports. Truist Financial reiterated a "buy" rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Weiss Ratings raised shares of Amcor from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. JPMorgan Chase & Co. lowered their price target 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Amcor in a research note on Wednesday, April 1st. They issued a "buy" rating and a $50.00 price target on the stock. Finally, Citigroup cut their price objective on Amcor from $54.00 to $47.00 and set a "buy" rating for the company in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $48.00.

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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