Verdence Capital Advisors LLC Sells 51,731 Shares of Amcor PLC (NYSE:AMCR)

Verdence Capital Advisors LLC reduced its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 49.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,120 shares of the company's stock after selling 51,731 shares during the period. Verdence Capital Advisors LLC's holdings in Amcor were worth $506,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. CX Institutional purchased a new position in Amcor in the first quarter worth $111,000. SG Americas Securities LLC grew its position in Amcor by 174.3% in the first quarter. SG Americas Securities LLC now owns 149,983 shares of the company's stock worth $1,455,000 after acquiring an additional 95,314 shares in the last quarter. Vanguard Group Inc. grew its position in Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock worth $555,064,000 after acquiring an additional 1,249,868 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new position in Amcor in the first quarter worth $121,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Amcor by 16.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,256,497 shares of the company's stock worth $12,188,000 after acquiring an additional 175,731 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMCR. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Wells Fargo & Company upped their target price on shares of Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Friday. Raymond James Financial assumed coverage on shares of Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating for the company. Truist Financial set a $11.00 price target on shares of Amcor and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Jefferies Financial Group assumed coverage on shares of Amcor in a research report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.51.

Amcor Trading Up 0.1%

NYSE AMCR traded up $0.01 during trading on Friday, hitting $9.52. 20,781,263 shares of the company's stock traded hands, compared to its average volume of 21,256,978. The stock has a fifty day moving average of $9.28 and a two-hundred day moving average of $9.53. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.70 and a quick ratio of 1.16. Amcor PLC has a 12-month low of $8.37 and a 12-month high of $11.48. The firm has a market cap of $13.76 billion, a P/E ratio of 17.00, a PEG ratio of 1.22 and a beta of 0.73.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. Amcor had a net margin of 5.99% and a return on equity of 26.49%. The company's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. As a group, sell-side analysts expect that Amcor PLC will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.36%. The ex-dividend date was Thursday, May 22nd. Amcor's dividend payout ratio (DPR) is 91.07%.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.