Avaii Wealth Management LLC Decreases Holdings in Amcor plc (NYSE:AMCR)

Avaii Wealth Management LLC cut its stake in shares of Amcor plc (NYSE:AMCR) by 16.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,215 shares of the company’s stock after selling 3,568 shares during the period. Avaii Wealth Management LLC’s holdings in Amcor were worth $177,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. CVA Family Office LLC increased its stake in shares of Amcor by 234.1% in the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company’s stock worth $32,000 after purchasing an additional 2,280 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after buying an additional 2,660 shares during the period. Quarry LP boosted its holdings in Amcor by 2,064.5% in the 4th quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after buying an additional 3,551 shares during the period. Huntington National Bank boosted its holdings in Amcor by 52.4% in the 4th quarter. Huntington National Bank now owns 4,426 shares of the company’s stock worth $42,000 after buying an additional 1,522 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Amcor in the 4th quarter worth $44,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Truist Financial dropped their target price on shares of Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Raymond James assumed coverage on shares of Amcor in a report on Tuesday, April 22nd. They issued a “market perform” rating for the company. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amcor currently has an average rating of “Moderate Buy” and a consensus price target of $11.31.

Amcor Stock Down 1.7%

Shares of NYSE:AMCR opened at $9.09 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. Amcor plc has a 12 month low of $8.37 and a 12 month high of $11.48. The company has a 50-day moving average price of $9.22 and a 200 day moving average price of $9.62. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.96 and a beta of 0.73.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter last year, the firm earned $0.13 EPS. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities research analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.61%. The ex-dividend date was Thursday, May 22nd. Amcor’s payout ratio is currently 91.07%.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.