Lifeworks Advisors LLC Has $3.85 Million Stock Holdings in Amcor PLC $AMCR

Lifeworks Advisors LLC trimmed its position in Amcor PLC (NYSE:AMCR) by 83.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 96,795 shares of the company’s stock after selling 478,635 shares during the quarter. Lifeworks Advisors LLC’s holdings in Amcor were worth $3,848,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMCR. Hsbc Holdings PLC boosted its holdings in Amcor by 1,620.5% in the first quarter. Hsbc Holdings PLC now owns 672,649 shares of the company’s stock worth $26,592,000 after acquiring an additional 633,554 shares in the last quarter. Ibex Wealth Advisors acquired a new stake in Amcor in the first quarter valued at approximately $6,732,000. Greenwood Capital Associates LLC bought a new stake in shares of Amcor during the first quarter valued at approximately $1,197,000. American Capital Advisory LLC bought a new stake in shares of Amcor during the first quarter valued at approximately $44,000. Finally, Ascentis Independent Advisors acquired a new position in shares of Amcor during the first quarter worth approximately $85,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMCR has been the topic of a number of recent research reports. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Truist Financial restated a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Wells Fargo & Company set a $41.00 price objective on shares of Amcor and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Amcor has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Amcor Stock Down 0.0%

Shares of NYSE:AMCR opened at $43.18 on Monday. The business’s 50 day moving average is $40.21 and its 200 day moving average is $42.11. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The stock has a market cap of $19.96 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 1.22 and a beta of 0.62. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting analysts’ consensus estimates of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the firm posted $0.90 EPS. Amcor’s quarterly revenue was up 77.4% compared to the same quarter last year. On average, sell-side 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 was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were issued a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 6.0%. 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.