Inceptionr LLC Sells 109,083 Shares of Amcor PLC $AMCR

Key Points

• Inceptionr LLC sharply cut its Amcor stake by 88% in the first quarter, selling 109,083 shares and leaving it with 14,846 shares worth about $590,000.
• Amcor has drawn mixed analyst views, but the overall consensus remains “Moderate Buy” with an average price target of $48.08.
• The company recently reported quarterly earnings that matched expectations at $0.96 EPS and beat revenue estimates with $5.91 billion in sales, while also paying a quarterly dividend of $0.65 per share for a 5.8% yield.

Inceptionr LLC reduced its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 88.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,846 shares of the company's stock after selling 109,083 shares during the quarter. Inceptionr LLC's holdings in Amcor were worth $590,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. AdvisorNet Financial Inc purchased a new stake in Amcor during the first quarter worth $25,000. DV Equities LLC purchased a new stake in shares of Amcor during the fourth quarter valued at about $27,000. Brown Lisle Cummings Inc. boosted its holdings in shares of Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company's stock valued at $29,000 after buying an additional 2,000 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company's stock worth $33,000 after buying an additional 1,257 shares during the last quarter. Finally, N.E.W. Advisory Services LLC grew its position 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 worth $34,000 after buying an additional 373 shares during the last quarter. Institutional investors own 45.14% of the company's stock.

Analysts Set New Price Targets

AMCR has been the subject of a number of recent analyst reports. Truist Financial reissued a "buy" rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Amcor from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. JPMorgan Chase & Co. decreased their price objective on shares of Amcor from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. Wells Fargo & Company set a $43.00 target price on shares of Amcor and gave the stock an "equal weight" rating in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group set a $44.92 price target on shares of Amcor and gave the company a "hold" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Amcor has a consensus rating of "Moderate Buy" and an average price target of $48.08.

Amcor Price Performance

Shares of NYSE AMCR opened at $44.60 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The firm has a fifty day moving average of $41.11 and a 200 day moving average of $42.23. The firm has a market cap of $20.62 billion, a PE ratio of 31.19, a PEG ratio of 1.40 and a beta of 0.62. Amcor PLC has a one year low of $36.25 and a one year high of $50.94.

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

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 5.8%. The ex-dividend date was Thursday, May 28th. Amcor's payout ratio 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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