Janus Henderson Group PLC Sells 8,476,414 Shares of Amcor PLC $AMCR

Key Points

• Janus Henderson Group reduced its Amcor stake by 70.5%, selling 8.48 million shares in the first quarter and retaining 3.55 million shares valued at approximately $140.9 million. Institutional investors and hedge funds collectively own 45.14% of Amcor.
• Amcor reported quarterly earnings of $0.96 per share, in line with estimates, while revenue reached $5.91 billion and rose 77.4% year over year. Analysts expect full-year earnings of approximately $3.97 per share.
• Amcor pays a quarterly dividend of $0.65 per share, equal to a 5.8% annualized yield, though its 181.82% payout ratio is elevated. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $48.08.

Janus Henderson Group PLC cut its holdings in Amcor PLC (NYSE:AMCR - Free Report) by 70.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,545,337 shares of the company's stock after selling 8,476,414 shares during the period. Janus Henderson Group PLC owned approximately 0.77% of Amcor worth $140,945,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. N.E.W. Advisory Services LLC lifted its position in shares of Amcor by 10.1% in the fourth 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. CYBER HORNET ETFs LLC increased its holdings in shares of Amcor by 11.1% during the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company's stock valued at $37,000 after acquiring an additional 447 shares during the last quarter. FineMark National Bank & Trust raised its stake in shares of Amcor by 0.6% in the 4th quarter. FineMark National Bank & Trust now owns 80,503 shares of the company's stock valued at $671,000 after acquiring an additional 503 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 acquiring an additional 597 shares in the last quarter. Finally, AdvisorNet Financial Inc acquired a new stake in Amcor in the 1st quarter worth approximately $25,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Performance

AMCR opened at $44.96 on Friday. The firm has a market capitalization of $20.79 billion, a P/E ratio of 31.44, a price-to-earnings-growth ratio of 1.42 and a beta of 0.62. The stock's 50 day moving average price is $41.89 and its two-hundred day moving average price is $42.33. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. Amcor PLC has a 12-month low of $36.25 and a 12-month 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 analysts' consensus estimates of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the company earned $0.90 earnings per share. The company's quarterly revenue was up 77.4% compared to the same quarter last year. On average, equities analysts forecast that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 5.8%. The ex-dividend date was Thursday, May 28th. Amcor's dividend payout ratio is presently 181.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMCR. Bank of America upped their target price on Amcor from $48.00 to $51.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Wells Fargo & Company set a $43.00 price objective on shares of Amcor and gave the stock an "equal weight" rating in a research note on Wednesday, July 15th. 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 report on Thursday, May 7th. Jefferies Financial Group set a $44.92 target price on shares of Amcor and gave the company a "hold" rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings upgraded shares of Amcor from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $48.08.

Amcor Profile

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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