Amcor PLC $AMCR Shares Sold by Stephens Inc. AR

Stephens Inc. AR reduced its holdings in Amcor PLC (NYSE:AMCR) by 8.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 430,781 shares of the company’s stock after selling 40,404 shares during the period. Stephens Inc. AR’s holdings in Amcor were worth $3,593,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMCR. M&G PLC lifted its stake in shares of Amcor by 26.6% in the third quarter. M&G PLC now owns 108,333,984 shares of the company’s stock worth $866,672,000 after buying an additional 22,737,979 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Amcor by 103.9% in the third quarter. Federated Hermes Inc. now owns 39,344,317 shares of the company’s stock worth $321,837,000 after buying an additional 20,052,979 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Amcor by 398.6% in the second quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after buying an additional 12,803,785 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Amcor by 29.9% in the third quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after buying an additional 10,846,351 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Amcor by 7.2% in the third quarter. State Street Corp now owns 139,077,241 shares of the company’s stock worth $1,137,652,000 after buying an additional 9,375,255 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Trading Up 2.2%

Shares of AMCR stock opened at $37.49 on Tuesday. 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 has a market capitalization of $17.33 billion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 1.11 and a beta of 0.63. The company has a 50 day moving average price of $39.96 and a 200 day moving average price of $42.39. Amcor PLC has a fifty-two week low of $36.67 and a fifty-two week high of $50.94.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.96. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 earnings per share. Equities research analysts predict that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be issued a $0.65 dividend. The ex-dividend date is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.9%. Amcor’s payout ratio is 181.82%.

Analyst Upgrades and Downgrades

AMCR has been the topic of several research reports. Citigroup decreased their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Morgan Stanley downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 target price on the stock. in a research note on Wednesday, January 28th. Truist Financial reaffirmed a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Wells Fargo & Company downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $48.00 to $43.00 in a research note on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $49.56.

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.