Amcor PLC (NYSE:AMCR) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its stake in Amcor PLC by 41.5% in the first quarter, ending up with 399,600 shares valued at approximately $3.88 million.
• Institutional investors currently hold approximately 45.14% of Amcor's shares, with several firms like UMB Bank and AlphaStar Capital Management increasing their positions during the same period.
• Research analysts are generally optimistic about Amcor, with a consensus rating of "Moderate Buy" and an average price target of $11.51.

Forsta AP Fonden trimmed its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 41.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 399,600 shares of the company's stock after selling 284,000 shares during the quarter. Forsta AP Fonden's holdings in Amcor were worth $3,876,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AMCR. Rakuten Securities Inc. raised its holdings in shares of Amcor by 18,725.0% in the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock valued at $29,000 after acquiring an additional 2,996 shares in the last quarter. HM Payson & Co. bought a new position in Amcor in the first quarter worth about $30,000. Brentview Investment Management LLC bought a new position in Amcor in the first quarter worth about $31,000. CVA Family Office LLC raised its holdings in Amcor by 234.1% in the first quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock worth $32,000 after purchasing an additional 2,280 shares in the last quarter. Finally, Quarry LP raised its holdings in Amcor by 2,064.5% in the fourth quarter. Quarry LP now owns 3,723 shares of the company's stock worth $35,000 after purchasing an additional 3,551 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Truist Financial set a $11.00 target price on shares of Amcor and gave the stock a "buy" rating in a report on Friday, July 11th. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Raymond James Financial assumed coverage on shares of Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating for the company. Wells Fargo & Company boosted their target price on shares of Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Robert W. Baird reduced their target price on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Friday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Amcor presently has an average rating of "Moderate Buy" and an average price target of $11.42.

Amcor Stock Down 0.3%

Shares of AMCR stock traded down $0.03 during trading hours on Friday, reaching $8.73. 65,218,352 shares of the company's stock were exchanged, compared to its average volume of 24,568,416. Amcor PLC has a 1 year low of $8.37 and a 1 year high of $11.48. The stock has a market cap of $12.62 billion, a PE ratio of 24.25, a PEG ratio of 1.12 and a beta of 0.74. The company has a current ratio of 0.67, a quick ratio of 1.16 and a debt-to-equity ratio of 1.18. The stock's fifty day moving average price is $9.42 and its two-hundred day moving average price is $9.52.

Amcor (NYSE:AMCR - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). The firm had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $5.18 billion. Amcor had a net margin of 3.40% and a return on equity of 19.43%. Amcor's quarterly revenue was up 43.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. Research analysts predict that Amcor PLC will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 5th will be issued a $0.1275 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a yield of 5.8%. Amcor's payout ratio is presently 141.67%.

Amcor Company 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.