Edgestream Partners L.P. Sells 60,506 Shares of Amcor PLC (NYSE:AMCR)

Edgestream Partners L.P. lessened its stake in Amcor PLC (NYSE:AMCR - Free Report) by 10.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 512,626 shares of the company's stock after selling 60,506 shares during the period. Edgestream Partners L.P.'s holdings in Amcor were worth $4,972,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CX Institutional acquired a new position in shares of Amcor in the first quarter worth about $111,000. SG Americas Securities LLC raised its position in shares of Amcor by 174.3% in the first quarter. SG Americas Securities LLC now owns 149,983 shares of the company's stock valued at $1,455,000 after purchasing an additional 95,314 shares during the period. Vanguard Group Inc. raised its position in shares of Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock valued at $555,064,000 after purchasing an additional 1,249,868 shares during the period. OneDigital Investment Advisors LLC bought a new position in shares of Amcor in the first quarter valued at approximately $121,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Amcor by 16.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,256,497 shares of the company's stock valued at $12,188,000 after purchasing an additional 175,731 shares during the period. Institutional investors own 45.14% of the company's stock.

Amcor Stock Down 0.4%

NYSE:AMCR traded down $0.04 during trading hours on Friday, reaching $9.48. 4,498,274 shares of the stock were exchanged, compared to its average volume of 29,567,541. Amcor PLC has a twelve month low of $8.37 and a twelve month high of $11.48. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.70 and a quick ratio of 1.16. The firm has a 50 day moving average of $9.27 and a 200 day moving average of $9.53. The stock has a market cap of $13.69 billion, a PE ratio of 16.92, a PEG ratio of 1.21 and a beta of 0.73.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. Amcor had a return on equity of 26.49% and a net margin of 5.99%. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 EPS. On average, equities analysts expect that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.38%. The ex-dividend date was Thursday, May 22nd. Amcor's payout ratio is presently 91.07%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AMCR shares. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Truist Financial set a $11.00 price objective on Amcor and gave the company a "buy" rating in a report on Friday, July 11th. Wells Fargo & Company started coverage on Amcor in a report on Thursday, June 26th. They set an "overweight" rating and a $10.00 price objective for the company. Raymond James Financial started coverage on Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating for the company. Finally, Jefferies Financial Group started coverage on Amcor in a report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Amcor currently has a consensus rating of "Moderate Buy" and a consensus target price 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.