Parvin Asset Management LLC Sells 110,061 Shares of Amcor PLC $AMCR

Parvin Asset Management LLC lowered its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 78.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 29,896 shares of the company's stock after selling 110,061 shares during the period. Parvin Asset Management LLC's holdings in Amcor were worth $1,188,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc acquired a new stake in shares of Amcor in the first quarter valued at about $25,000. DV Equities LLC bought a new stake in Amcor in the fourth quarter valued at approximately $27,000. Brown Lisle Cummings Inc. boosted its holdings in Amcor by 137.9% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company's stock valued at $29,000 after acquiring an additional 2,000 shares during the last quarter. Larson Financial Group LLC increased its position in Amcor by 46.1% during the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company's stock valued at $33,000 after purchasing an additional 1,257 shares during the period. Finally, N.E.W. Advisory Services LLC increased its position in Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company's stock valued at $34,000 after purchasing an additional 373 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMCR has been the topic of a number of recent analyst reports. Truist Financial restated a "buy" rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a "buy" rating and a $50.00 target price on the stock. Jefferies Financial Group set a $44.92 price target on shares of Amcor and gave the company a "hold" rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. decreased their price target on Amcor from $50.00 to $44.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Finally, BMO Capital Markets began coverage on Amcor in a report on Thursday, July 16th. They set a "market perform" rating and a $47.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Amcor has an average rating of "Moderate Buy" and a consensus target price of $48.08.

Amcor Price Performance

Amcor stock opened at $46.77 on Wednesday. The stock has a market capitalization of $21.62 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 1.42 and a beta of 0.62. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94. 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 stock's 50 day moving average price is $41.47 and its two-hundred day moving average price is $42.28.

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

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor's dividend payout ratio is 181.82%.

Amcor Company 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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