Curated Wealth Partners LLC Sells 144,630 Shares of Amcor PLC $AMCR

Curated Wealth Partners LLC cut its stake in Amcor PLC (NYSE:AMCR) by 62.2% in the third quarter, HoldingsChannel reports. The firm owned 87,773 shares of the company’s stock after selling 144,630 shares during the quarter. Curated Wealth Partners LLC’s holdings in Amcor were worth $3,674,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bangor Savings Bank purchased a new stake in shares of Amcor in the 2nd quarter valued at approximately $26,000. AdvisorNet Financial Inc acquired a new position in shares of Amcor in the 1st quarter valued at $25,000. Western Wealth Management LLC acquired a new position in Amcor in the first quarter valued at $27,000. Palladiem LLC purchased a new position in shares of Amcor during the first quarter worth about $34,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of Amcor by 216.9% in the 3rd quarter. Fortitude Family Office LLC now owns 954 shares of the company’s stock valued at $40,000 after purchasing an additional 653 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMCR. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $47.00 price objective (up from $44.00) on shares of Amcor in a research note on Monday, August 17th. BMO Capital Markets started coverage on Amcor in a research report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price target on the stock. UBS Group began coverage on shares of Amcor in a research report on Tuesday, August 11th. They issued a “buy” rating and a $56.00 price objective on the stock. Truist Financial set a $51.00 target price on shares of Amcor in a report on Tuesday, August 18th. Finally, Citigroup reaffirmed a “buy” rating and issued a $52.00 price objective (up from $47.00) on shares of Amcor in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and an average price target of $49.36.

Amcor Price Performance

AMCR traded up $1.35 during midday trading on Thursday, reaching $43.63. 1,299,567 shares of the company’s stock were exchanged, compared to its average volume of 4,566,177. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.25 and a quick ratio of 0.76. The business’s 50-day moving average price is $44.31 and its 200 day moving average price is $42.20. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The stock has a market capitalization of $20.17 billion, a PE ratio of 18.49, a P/E/G ratio of 2.59 and a beta of 0.58.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Thursday, August 13th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. The business had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.05 billion. Amcor had a return on equity of 15.92% and a net margin of 4.71%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 earnings per share. As a group, equities analysts anticipate that Amcor PLC will post 1.84 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Friday, September 4th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.0%. Amcor’s dividend payout ratio is currently 110.17%.

Amcor Company Profile

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging for food, beverages, pharmaceutical and medical products, personal care items, household goods and other consumer and industrial applications. Its portfolio includes flexible packaging, rigid containers, films, laminates, bags, bottles, closures, cartons and specialty packaging solutions.

The company works with brand owners and manufacturers to design packaging that supports product protection, shelf life, convenience and presentation.