Exchange Traded Concepts LLC Has $252,000 Holdings in Amcor PLC (NYSE:AMCR)

Exchange Traded Concepts LLC trimmed its stake in Amcor PLC (NYSE:AMCR - Free Report) by 79.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,961 shares of the company's stock after selling 97,386 shares during the period. Exchange Traded Concepts LLC's holdings in Amcor were worth $252,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its holdings in shares of Amcor by 4.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 81,433 shares of the company's stock worth $761,000 after purchasing an additional 3,751 shares in the last quarter. Private Advisor Group LLC lifted its position in Amcor by 25.5% in the fourth quarter. Private Advisor Group LLC now owns 15,408 shares of the company's stock worth $145,000 after purchasing an additional 3,131 shares during the period. Concurrent Investment Advisors LLC boosted its stake in Amcor by 136.3% during the fourth quarter. Concurrent Investment Advisors LLC now owns 35,373 shares of the company's stock worth $333,000 after buying an additional 20,402 shares in the last quarter. Nan Fung Trinity HK Ltd. boosted its stake in Amcor by 61.2% during the fourth quarter. Nan Fung Trinity HK Ltd. now owns 2,719,680 shares of the company's stock worth $25,592,000 after buying an additional 1,032,400 shares in the last quarter. Finally, Howard Capital Management Inc. bought a new stake in Amcor in the 4th quarter valued at $238,000. Institutional investors own 45.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AMCR shares. Raymond James Financial assumed coverage on shares of Amcor in a report on Tuesday, April 22nd. They set a "market perform" rating for the company. Truist Financial cut their price target on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company started coverage on Amcor in a report on Thursday. They set an "overweight" rating and a $10.00 price objective on the stock. Finally, UBS Group raised Amcor from a "neutral" rating to a "buy" rating in a report on Thursday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $11.20.

Amcor Price Performance

Shares of NYSE AMCR traded up $0.19 during mid-day trading on Thursday, hitting $9.24. 21,180,707 shares of the stock were exchanged, compared to its average volume of 20,545,081. Amcor PLC has a twelve month low of $8.37 and a twelve month high of $11.48. The stock's fifty day simple moving average is $9.21 and its two-hundred day simple moving average is $9.54. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70. The company has a market cap of $13.35 billion, a P/E ratio of 16.49, a PEG ratio of 2.51 and a beta of 0.73.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, hitting analysts' consensus estimates of $0.18. Amcor had a return on equity of 26.49% and a net margin of 5.99%. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the company earned $0.13 EPS. Amcor's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts forecast that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.52%. The ex-dividend date was Thursday, May 22nd. Amcor's payout ratio is presently 91.07%.

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.