HORAN Wealth LLC Has $3.41 Million Stock Holdings in Amcor PLC $AMCR

Key Points

• HORAN Wealth LLC trimmed its Amcor stake by 9.1% in the fourth quarter, selling 40,902 shares and ending with 408,559 shares valued at about $3.41 million.
• Analysts have turned more cautious on AMCR, with several firms cutting price targets and some downgrading the stock; the consensus rating remains “Moderate Buy” with a target price of $49.56.
• Amcor reported solid quarterly results and a hefty dividend, posting EPS in line with estimates and revenue above expectations, while announcing a quarterly dividend of $0.65 per share, implying a 6.5% yield.

HORAN Wealth LLC decreased its holdings in Amcor PLC (NYSE:AMCR - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 408,559 shares of the company's stock after selling 40,902 shares during the quarter. HORAN Wealth LLC owned 0.09% of Amcor worth $3,407,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. N.E.W. Advisory Services LLC raised its stake in shares of Amcor by 10.1% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company's stock valued at $34,000 after buying an additional 373 shares in the last quarter. United Asset Strategies Inc. raised its stake in shares of Amcor by 1.6% in the 4th quarter. United Asset Strategies Inc. now owns 38,453 shares of the company's stock valued at $321,000 after buying an additional 597 shares in the last quarter. Shayne & Jacobs LLC raised its stake in shares of Amcor by 0.6% in the 4th quarter. Shayne & Jacobs LLC now owns 129,101 shares of the company's stock valued at $1,077,000 after buying an additional 755 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of Amcor by 3.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 26,857 shares of the company's stock valued at $224,000 after buying an additional 832 shares in the last quarter. Finally, Horizon Investments LLC raised its stake in shares of Amcor by 3.7% in the 4th quarter. Horizon Investments LLC now owns 25,768 shares of the company's stock valued at $215,000 after buying an additional 921 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AMCR shares. Wells Fargo & Company cut shares of Amcor from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $48.00 to $43.00 in a research note on Friday, March 20th. Citigroup lowered their target price on shares of Amcor from $54.00 to $47.00 and set a "buy" rating on the stock in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Amcor from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Morgan Stanley lowered shares of Amcor from an "overweight" rating to an "equal weight" rating and set a $46.00 target price on the stock. in a report on Wednesday, January 28th. Finally, Weiss Ratings lowered shares of Amcor from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $49.56.

Amcor Stock Up 0.7%

Shares of NYSE AMCR opened at $40.20 on Tuesday. The firm has a market capitalization of $18.59 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.21 and a beta of 0.63. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. Amcor PLC has a 1 year low of $36.67 and a 1 year high of $50.94. The firm's 50-day moving average is $40.80 and its 200-day moving average is $42.49.

Amcor (NYSE:AMCR - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The company's revenue for the quarter was up 77.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. Equities analysts expect that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Thursday, May 28th. Amcor's dividend payout ratio (DPR) is 181.82%.

About Amcor

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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