HORAN Wealth LLC Sells 294,775 Shares of Amcor PLC $AMCR

Key Points

• HORAN Wealth LLC cut its Amcor position by 72.1% in the first quarter, selling 294,775 shares and leaving it with 113,784 shares worth about $4.52 million.
• Amcor reported quarterly EPS of $0.96, matching estimates, while revenue came in at $5.91 billion, above analyst expectations and up sharply from a year earlier.
• The company pays a 6.0% dividend yield based on an annualized $2.60 per share, and Wall Street currently rates the stock Moderate Buy with an average price target of $48.40.

HORAN Wealth LLC lessened its position in Amcor PLC (NYSE:AMCR - Free Report) by 72.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 113,784 shares of the company's stock after selling 294,775 shares during the quarter. HORAN Wealth LLC's holdings in Amcor were worth $4,523,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of AMCR. State Street Corp grew its stake in shares of Amcor by 1.7% during the 4th quarter. State Street Corp now owns 141,509,581 shares of the company's stock worth $1,180,190,000 after acquiring an additional 2,432,340 shares in the last quarter. M&G PLC lifted its position in shares of Amcor by 6.1% in the fourth quarter. M&G PLC now owns 114,989,595 shares of the company's stock worth $919,917,000 after purchasing an additional 6,655,611 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Amcor by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company's stock worth $945,222,000 after purchasing an additional 1,845,627 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Amcor by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company's stock worth $701,356,000 after purchasing an additional 2,036,667 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Amcor by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company's stock worth $533,487,000 after purchasing an additional 262,418 shares during the last quarter. Institutional investors own 45.14% of the company's stock.

Amcor Price Performance

Shares of AMCR opened at $43.22 on Tuesday. The company has a market cap of $19.98 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 1.38 and a beta of 0.62. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The company's fifty day simple moving average is $40.71 and its 200 day simple moving average is $42.19. 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 (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The company's quarterly revenue was up 77.4% compared to the same quarter last year. On average, research analysts forecast that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor's dividend payout ratio is presently 181.82%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMCR shares. Wells Fargo & Company set a $43.00 target price on shares of Amcor and gave the company an "equal weight" rating in a research report on Wednesday, July 15th. BMO Capital Markets began coverage on shares of Amcor in a research note on Thursday. They set a "market perform" rating and a $47.00 price objective for the company. Truist Financial restated a "buy" rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Weiss Ratings upgraded Amcor from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research report on Wednesday, April 1st. They issued a "buy" rating and a $50.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Amcor has a consensus rating of "Moderate Buy" and an average price target of $48.40.

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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