Amcor PLC $AMCR Shares Sold by Eliot Finkel Investment Counsel LLC

Eliot Finkel Investment Counsel LLC cut its holdings in shares of Amcor PLC (NYSE:AMCR) by 80.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 40,796 shares of the company’s stock after selling 163,139 shares during the quarter. Eliot Finkel Investment Counsel LLC’s holdings in Amcor were worth $1,622,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMCR. Capital International Investors purchased a new position in shares of Amcor during the 4th quarter valued at approximately $354,227,000. Norges Bank acquired a new stake in shares of Amcor during the fourth quarter worth approximately $308,724,000. AQR Capital Management LLC increased 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 during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Amcor in the fourth quarter worth $103,713,000. Finally, Invesco Ltd. raised its holdings in Amcor by 29.9% in the third quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock valued at $385,373,000 after acquiring an additional 10,846,351 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Stock Performance

AMCR stock opened at $44.98 on Friday. The stock’s 50 day simple moving average is $39.75 and its 200 day simple moving average is $42.04. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The firm has a market cap of $20.80 billion, a P/E ratio of 31.46, a P/E/G ratio of 1.27 and a beta of 0.62. 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 released its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The firm’s revenue was up 77.4% on a year-over-year basis. As a group, equities research analysts predict that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors 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 dividend yield of 5.8%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s dividend payout ratio is currently 181.82%.

Analysts Set New Price Targets

A number of research firms have commented on AMCR. Citigroup reduced their price objective 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. 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. JPMorgan Chase & Co. cut their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target on the stock. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $48.00.

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.