Raleigh Capital Management Inc. Sells 134,262 Shares of Amcor PLC $AMCR

Raleigh Capital Management Inc. reduced its position in shares of Amcor PLC (NYSE:AMCR) by 72.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,371 shares of the company’s stock after selling 134,262 shares during the period. Raleigh Capital Management Inc.’s holdings in Amcor were worth $2,002,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AMCR. AdvisorNet Financial Inc bought a new stake in Amcor during the first quarter valued at $25,000. DV Equities LLC purchased a new stake in shares of Amcor in the 4th quarter valued at about $27,000. Brown Lisle Cummings Inc. raised its holdings in shares of Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Amcor by 46.1% in the 4th 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 in the last quarter. Finally, N.E.W. Advisory Services LLC boosted its position in shares of Amcor by 10.1% during the 4th 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. Institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AMCR shares. 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 for the company. Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. cut their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, Citigroup decreased their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Amcor Trading Down 0.0%

Shares of AMCR stock opened at $44.98 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The business has a 50-day moving average price of $39.75 and a two-hundred day moving average price of $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 price-to-earnings-growth ratio of 1.27 and a beta of 0.62.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company’s revenue was up 77.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. Equities analysts anticipate that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were paid a $0.65 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 5.8%. Amcor’s dividend payout ratio is currently 181.82%.

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.