Castleview Partners LLC Sells 27,358 Shares of Amcor PLC $AMCR

Castleview Partners LLC trimmed its holdings in shares of Amcor PLC (NYSE:AMCR) by 73.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 9,820 shares of the company’s stock after selling 27,358 shares during the period. Castleview Partners LLC’s holdings in Amcor were worth $390,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMCR. Dakota Wealth Management boosted its position in Amcor by 74.6% during the fourth quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock worth $2,881,000 after purchasing an additional 147,639 shares during the period. PFG Investments LLC bought a new position in shares of Amcor in the fourth quarter valued at approximately $262,000. Vanguard Group Inc. lifted its stake in shares of Amcor by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after buying an additional 1,845,627 shares during the last quarter. Code Waechter LLC boosted its holdings in shares of Amcor by 105.1% during the 4th quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock worth $451,000 after buying an additional 27,725 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Amcor by 64.0% during the 4th quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock worth $2,034,000 after buying an additional 94,753 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of AMCR traded up $0.48 during trading hours on Friday, reaching $43.18. 2,267,386 shares of the company traded hands, compared to its average volume of 3,111,503. The stock’s fifty day moving average is $40.21 and its 200 day moving average is $42.11. The stock has a market cap of $19.96 billion, a P/E ratio of 30.19, a price-to-earnings-growth ratio of 1.22 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. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period last year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was up 77.4% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders 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 6.0%. Amcor’s dividend payout ratio (DPR) is currently 181.82%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AMCR shares. Citigroup lowered their target price 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. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wells Fargo & Company set a $41.00 price target on Amcor and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, Truist Financial reissued a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

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.