HORAN Wealth LLC Sells 40,902 Shares of Amcor PLC $AMCR

HORAN Wealth LLC decreased its position in shares of Amcor PLC (NYSE:AMCR) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 408,559 shares of the company’s stock after selling 40,902 shares during the quarter. HORAN Wealth LLC’s holdings in Amcor were worth $3,407,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AMCR. M&G PLC boosted its stake in Amcor by 26.6% during the 3rd quarter. M&G PLC now owns 108,333,984 shares of the company’s stock worth $866,672,000 after acquiring an additional 22,737,979 shares during the last quarter. Federated Hermes Inc. boosted its stake in Amcor by 103.9% during the 3rd quarter. Federated Hermes Inc. now owns 39,344,317 shares of the company’s stock worth $321,837,000 after acquiring an additional 20,052,979 shares during the last quarter. AQR Capital Management LLC boosted its stake in Amcor by 398.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after acquiring an additional 12,803,785 shares during the last quarter. Invesco Ltd. boosted its stake in Amcor by 29.9% during the 3rd quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after acquiring an additional 10,846,351 shares during the last quarter. Finally, State Street Corp boosted its stake in Amcor by 7.2% during the 3rd quarter. State Street Corp now owns 139,077,241 shares of the company’s stock worth $1,137,652,000 after acquiring an additional 9,375,255 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $48.00 to $43.00 in a report on Friday, March 20th. Weiss Ratings downgraded shares of Amcor from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. Citigroup dropped their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Finally, Truist Financial restated a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. One 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.56.

Amcor Price Performance

Shares of AMCR opened at $40.20 on Tuesday. The company has a market cap of $18.59 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.21 and a beta of 0.63. Amcor PLC has a 1-year low of $36.67 and a 1-year high of $50.94. The company’s fifty day simple moving average is $40.80 and its 200 day simple moving average is $42.49. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30.

Amcor (NYSE:AMCR) last issued 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. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm’s revenue for the quarter was up 77.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 earnings per share. On average, research analysts forecast that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Thursday, May 28th. Amcor’s payout ratio is presently 181.82%.

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.