FNY Investment Advisers LLC Lowers Stock Holdings in Amcor PLC (NYSE:AMCR)

FNY Investment Advisers LLC cut its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 77.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,000 shares of the company's stock after selling 28,000 shares during the period. FNY Investment Advisers LLC's holdings in Amcor were worth $77,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. UMB Bank n.a. lifted its stake in Amcor by 20.0% during the 1st quarter. UMB Bank n.a. now owns 6,386 shares of the company's stock valued at $62,000 after acquiring an additional 1,066 shares during the period. Virtue Capital Management LLC raised its holdings in shares of Amcor by 2.8% during the fourth quarter. Virtue Capital Management LLC now owns 45,924 shares of the company's stock valued at $432,000 after purchasing an additional 1,259 shares during the last quarter. Utah Retirement Systems lifted its position in Amcor by 1.1% during the fourth quarter. Utah Retirement Systems now owns 120,076 shares of the company's stock valued at $1,130,000 after purchasing an additional 1,300 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in Amcor by 0.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 157,588 shares of the company's stock valued at $1,529,000 after purchasing an additional 1,477 shares during the period. Finally, New York Life Investment Management LLC boosted its holdings in Amcor by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 195,714 shares of the company's stock worth $1,842,000 after purchasing an additional 1,507 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Raymond James Financial assumed coverage on shares of Amcor in a research note on Tuesday, April 22nd. They set a "market perform" rating for the company. Truist Financial cut their price objective on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $11.31.

Amcor Stock Performance

Shares of NYSE:AMCR traded down $0.06 during midday trading on Friday, hitting $9.00. The company had a trading volume of 123,929,508 shares, compared to its average volume of 20,258,765. 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 company has a market cap of $13.00 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 2.51 and a beta of 0.73. Amcor PLC has a 12-month low of $8.37 and a 12-month high of $11.48. The company has a fifty day moving average of $9.24 and a two-hundred day moving average of $9.58.

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

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd were issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.67%. The ex-dividend date of this dividend was Thursday, May 22nd. Amcor's dividend payout ratio is 91.07%.

Amcor Profile

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.