Swiss National Bank Cuts Stock Position in Amcor PLC $AMCR

Swiss National Bank trimmed its position in Amcor PLC (NYSE:AMCR - Free Report) by 78.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,356,169 shares of the company's stock after selling 4,969,379 shares during the period. Swiss National Bank owned approximately 0.29% of Amcor worth $53,908,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc purchased a new stake in shares of Amcor during the 1st quarter valued at $25,000. DV Equities LLC purchased a new position in Amcor during the 4th quarter worth $27,000. Brown Lisle Cummings Inc. increased its position in Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company's stock valued at $29,000 after buying an additional 2,000 shares in 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 buying an additional 1,257 shares in the last quarter. Finally, N.E.W. Advisory Services LLC raised its stake in Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company's stock valued at $34,000 after buying an additional 373 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMCR. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a research note on Wednesday, April 1st. They set a "buy" rating and a $50.00 price target on the stock. Wells Fargo & Company set a $43.00 price objective on shares of Amcor and gave the company an "equal weight" rating in a research report on Wednesday, July 15th. Citigroup lowered their target price on shares of Amcor from $54.00 to $47.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Weiss Ratings raised shares of Amcor from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Finally, BMO Capital Markets started coverage on shares of Amcor in a research note on Thursday, July 16th. They set a "market perform" rating and a $47.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Amcor has a consensus rating of "Moderate Buy" and a consensus target price of $48.08.

Amcor Stock Up 0.6%

Shares of AMCR stock opened at $43.48 on Wednesday. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The firm has a market capitalization of $20.10 billion, a PE ratio of 30.41, a P/E/G ratio of 1.36 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. The stock's 50-day simple moving average is $40.79 and its 200-day simple moving average is $42.20.

Amcor (NYSE:AMCR - Get Free Report) last released its earnings results 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 during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. Equities analysts expect that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders 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 6.0%. The ex-dividend date was Thursday, May 28th. Amcor's payout ratio is presently 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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