Sequoia Financial Advisors LLC Has $210,000 Stock Holdings in Amcor PLC $AMCR

Key Points

• Sequoia Financial Advisors LLC sharply cut its Amcor stake by 91.2% in the first quarter, selling 54,792 shares and retaining 5,278 shares valued at about $210,000.
• Amcor’s stock was up 4.6% to $44.60, and the company reported quarterly earnings of $0.96 per share, matching analyst expectations while revenue came in above estimates at $5.91 billion.
• The company pays a quarterly dividend of $0.65, or $2.60 annually, for a dividend yield of about 5.8%, while Wall Street currently rates the stock a Moderate Buy with a consensus price target of $48.08.

Sequoia Financial Advisors LLC decreased its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 91.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,278 shares of the company's stock after selling 54,792 shares during the period. Sequoia Financial Advisors LLC's holdings in Amcor were worth $210,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hsbc Holdings PLC raised its holdings in Amcor by 1,620.5% in the 1st quarter. Hsbc Holdings PLC now owns 672,649 shares of the company's stock valued at $26,592,000 after acquiring an additional 633,554 shares during the period. Ibex Wealth Advisors bought a new stake in shares of Amcor during the first quarter worth approximately $6,732,000. Greenwood Capital Associates LLC bought a new stake in shares of Amcor during the first quarter worth approximately $1,197,000. American Capital Advisory LLC acquired a new position in shares of Amcor in the first quarter valued at approximately $44,000. Finally, Ascentis Independent Advisors acquired a new position in shares of Amcor in the first quarter valued at approximately $85,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Trading Up 4.6%

Shares of AMCR stock opened at $44.60 on Friday. The stock 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. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. 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 posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts' consensus estimates of $0.96. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company's revenue was up 77.4% on a year-over-year basis. During the same quarter last year, the company earned $0.90 EPS. On average, research analysts predict that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMCR. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a report on Wednesday, April 1st. They set a "buy" rating and a $50.00 price target for the company. Bank of America increased their price objective on Amcor from $48.00 to $51.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. BMO Capital Markets assumed coverage on Amcor in a report on Thursday, July 16th. They set a "market perform" rating and a $47.00 target price for the company. Weiss Ratings raised Amcor from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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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