Amcor PLC $AMCR Shares Sold by Kinloch Capital LLC

Kinloch Capital LLC reduced its stake in Amcor PLC (NYSE:AMCR) by 28.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 301,893 shares of the company’s stock after selling 118,551 shares during the period. Kinloch Capital LLC owned 0.07% of Amcor worth $2,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. DV Equities LLC purchased a new position in shares of Amcor in the 4th quarter valued at $27,000. Brown Lisle Cummings Inc. raised its stake in Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after acquiring an additional 2,000 shares in the last quarter. Larson Financial Group LLC lifted its position in Amcor by 46.1% in the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after acquiring an additional 1,257 shares during the last quarter. N.E.W. Advisory Services LLC lifted its position in Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after acquiring an additional 373 shares during the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new position in Amcor in the second quarter valued at $36,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Ratings Changes

AMCR has been the topic of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective on the stock. Truist Financial reissued a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Wells Fargo & Company set a $41.00 price target on Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Citigroup reduced their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Amcor presently has an average rating of “Moderate Buy” and an average target price of $49.33.

Amcor Price Performance

Shares of NYSE:AMCR opened at $41.07 on Friday. The company has a 50-day simple moving average of $39.41 and a 200-day simple moving average of $41.96. Amcor PLC has a one year low of $36.25 and a one year high of $50.94. 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 $18.99 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 1.23 and a beta of 0.64.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. The business had revenue of $5.91 billion during 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 business’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 earnings per share. On average, analysts predict that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) 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.