Sanctuary Advisors LLC Lowers Stock Holdings in Amcor PLC $AMCR

Key Points

• Sanctuary Advisors LLC cut its Amcor stake by 64.3% in the first quarter, selling 58,267 shares and leaving it with 32,324 shares valued at about $1.29 million.
• Amcor reported Q1 earnings in line with expectations, posting $0.96 EPS and revenue of $5.91 billion, which topped analyst estimates and rose sharply year over year.
• The company paid a quarterly dividend of $0.65 per share, equal to an annualized yield of about 5.8%, while analysts currently maintain a consensus rating of Moderate Buy with a target price of $48.08.

Sanctuary Advisors LLC cut its holdings in Amcor PLC (NYSE:AMCR - Free Report) by 64.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 32,324 shares of the company's stock after selling 58,267 shares during the period. Sanctuary Advisors LLC's holdings in Amcor were worth $1,285,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. N.E.W. Advisory Services LLC boosted its holdings in shares of Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company's stock worth $34,000 after purchasing an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC increased its stake in Amcor by 11.1% in the fourth quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company's stock valued at $37,000 after purchasing an additional 447 shares during the last quarter. FineMark National Bank & Trust increased its stake in Amcor by 0.6% in the fourth quarter. FineMark National Bank & Trust now owns 80,503 shares of the company's stock valued at $671,000 after purchasing an additional 503 shares during the last quarter. United Asset Strategies Inc. increased its stake in Amcor by 1.6% in the fourth quarter. United Asset Strategies Inc. now owns 38,453 shares of the company's stock valued at $321,000 after purchasing an additional 597 shares during the last quarter. Finally, AdvisorNet Financial Inc purchased a new position in Amcor during the first quarter worth about $25,000. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Price Performance

AMCR stock opened at $44.60 on Friday. The firm has a market cap of $20.62 billion, a P/E ratio of 31.19, a price-to-earnings-growth ratio of 1.34 and a beta of 0.62. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The stock has a 50-day simple moving average of $41.11 and a 200-day simple moving average of $42.23.

Amcor (NYSE:AMCR - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the company posted $0.90 EPS. Amcor's revenue for the quarter was up 77.4% on a year-over-year basis. On average, equities analysts predict that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were issued a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 5.8%. Amcor's payout ratio is currently 181.82%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AMCR shares. Citigroup decreased their price target on Amcor from $54.00 to $47.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. JPMorgan Chase & Co. dropped their price objective on shares of Amcor from $50.00 to $44.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. Bank of America increased their price objective on shares of Amcor from $48.00 to $51.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Truist Financial reissued a "buy" rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. 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 research 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 stock. Based on data from MarketBeat.com, Amcor has an average rating of "Moderate Buy" and a consensus target price of $48.08.

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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