Empowered Funds LLC cut its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 78.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,578 shares of the company's stock after selling 79,176 shares during the quarter. Empowered Funds LLC's holdings in Amcor were worth $858,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of AMCR. AdvisorNet Financial Inc purchased a new stake in shares of Amcor in the 1st quarter worth $25,000. Western Wealth Management LLC bought a new stake in shares of Amcor in the first quarter valued at about $27,000. Palladiem LLC purchased a new stake in Amcor in the first quarter worth about $34,000. Root Financial Partners LLC purchased a new stake in Amcor in the first quarter worth about $41,000. Finally, American Capital Advisory LLC bought a new position in Amcor during the 1st quarter worth about $44,000. Institutional investors own 45.14% of the company's stock.
Amcor Price Performance
Shares of AMCR opened at $45.51 on Tuesday. The company has a market cap of $21.04 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 1.09 and a beta of 0.62. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a quick ratio of 0.42, a current ratio of 0.74 and a debt-to-equity ratio of 1.17. The company has a 50 day moving average of $43.73 and a two-hundred day moving average of $42.61.
Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. The firm had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.05 billion. Amcor had a return on equity of 15.92% and a net margin of 4.71%.The business's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 EPS. As a group, analysts predict that Amcor PLC will post 4.24 earnings per share for the current fiscal year.
Amcor Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, September 4th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Friday, September 4th. Amcor's dividend payout ratio is currently 110.17%.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Truist Financial reissued a "buy" rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Citigroup reaffirmed a "buy" rating and issued a $52.00 price target (up from $47.00) on shares of Amcor in a research report on Friday. Jefferies Financial Group set a $44.92 price objective on shares of Amcor and gave the company a "hold" rating in a research note on Tuesday, July 21st. UBS Group assumed coverage on shares of Amcor in a report on Tuesday, August 11th. They set a "buy" rating and a $56.00 price objective on the stock. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Amcor in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $49.49.
View Our Latest Stock Report on Amcor
Amcor Company Profile
(
Free Report)
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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