Kestra Advisory Services LLC Sells 65,541 Shares of Amcor PLC $AMCR

Kestra Advisory Services LLC cut its stake in shares of Amcor PLC (NYSE:AMCR) by 80.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,760 shares of the company’s stock after selling 65,541 shares during the period. Kestra Advisory Services LLC’s holdings in Amcor were worth $626,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of AMCR. AdvisorNet Financial Inc bought a new stake in shares of Amcor during the 1st quarter worth approximately $25,000. DV Equities LLC acquired a new stake in shares of Amcor in the 4th quarter valued at approximately $27,000. Brown Lisle Cummings Inc. grew its stake in shares of Amcor by 137.9% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after buying an additional 2,000 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of 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 buying an additional 1,257 shares in the last quarter. Finally, N.E.W. Advisory Services LLC increased its holdings in Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after buying an additional 373 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Performance

Shares of NYSE AMCR opened at $44.60 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $20.62 billion, a P/E ratio of 31.19, a P/E/G ratio of 1.40 and a beta of 0.62. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94. The stock has a 50 day moving average of $41.11 and a 200-day moving average of $42.23.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share 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 for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the business earned $0.90 EPS. The firm’s revenue for the quarter 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Thursday, May 28th. Amcor’s payout ratio is currently 181.82%.

Analysts Set New Price Targets

AMCR has been the topic of several analyst reports. BMO Capital Markets began coverage on shares of Amcor in a research report on Thursday, July 16th. They set a “market perform” rating and a $47.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Citigroup lowered 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.08.

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.