Simplicity Wealth LLC Sells 24,771 Shares of Amcor PLC $AMCR

Key Points

• Simplicity Wealth LLC cut its Amcor stake by 81.2% in the first quarter, selling 24,771 shares and leaving it with 5,728 shares worth about $228,000.
• Amcor reported quarterly earnings of $0.96 per share, matching estimates, while revenue came in at $5.91 billion, above analyst expectations. Analysts now expect the company to earn 3.97 EPS for the full fiscal year.
• The company paid a $0.65 quarterly dividend, equal to a 6.0% annualized yield, though the payout ratio is high at 181.82%. Analysts currently rate the stock a Moderate Buy with a consensus target price of $48.56.

Simplicity Wealth LLC trimmed its stake in Amcor PLC (NYSE:AMCR - Free Report) by 81.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,728 shares of the company's stock after selling 24,771 shares during the period. Simplicity Wealth LLC's holdings in Amcor were worth $228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Amcor by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company's stock valued at $2,596,000 after purchasing an additional 20,757 shares in the last quarter. Focus Partners Wealth grew its position in shares of Amcor by 11.3% during the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company's stock worth $418,000 after buying an additional 4,396 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Amcor during the 2nd quarter worth $138,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Amcor during the second quarter valued at $6,426,000. Finally, CW Advisors LLC bought a new stake in shares of Amcor in the second quarter valued at about $228,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Price Performance

AMCR opened at $43.41 on Thursday. The firm has a market capitalization of $20.07 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 1.21 and a beta of 0.62. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The business's 50-day moving average is $40.47 and its two-hundred day moving average is $42.14. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94.

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, meeting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The company's quarterly revenue was up 77.4% on a year-over-year basis. Research analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 6.0%. The ex-dividend date was Thursday, May 28th. Amcor's dividend payout ratio (DPR) is 181.82%.

Analysts Set New Price Targets

AMCR has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amcor in a report on Wednesday, April 1st. They set a "buy" rating and a $50.00 target price on the stock. Weiss Ratings upgraded shares of Amcor from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Bank of America upped their price target on shares of Amcor from $48.00 to $51.00 and gave the stock a "buy" rating in a research report on Tuesday. Truist Financial reissued a "buy" rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. reduced 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Amcor currently has an average rating of "Moderate Buy" and a consensus target price of $48.56.

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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