FNY Investment Advisers LLC Sells 28,000 Shares of Amcor plc (NYSE:AMCR)

FNY Investment Advisers LLC trimmed its position in shares of Amcor plc (NYSE:AMCR) by 77.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,000 shares of the company’s stock after selling 28,000 shares during the period. FNY Investment Advisers LLC’s holdings in Amcor were worth $77,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AMCR. Marshall Wace LLP grew its stake in shares of Amcor by 303.9% during the fourth quarter. Marshall Wace LLP now owns 8,699,610 shares of the company’s stock valued at $81,863,000 after buying an additional 6,545,689 shares during the last quarter. Wellington Management Group LLP increased its stake in Amcor by 25.1% in the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock worth $263,215,000 after purchasing an additional 5,614,233 shares during the period. First Trust Advisors LP lifted its position in shares of Amcor by 474.7% during the fourth quarter. First Trust Advisors LP now owns 5,402,490 shares of the company’s stock worth $50,837,000 after purchasing an additional 4,462,367 shares during the last quarter. Invesco Ltd. lifted its position in shares of Amcor by 16.0% during the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock worth $286,300,000 after purchasing an additional 4,199,209 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Amcor during the fourth quarter valued at $31,485,000. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Amcor Stock Up 1.0%

NYSE:AMCR opened at $9.19 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a 1-year low of $8.37 and a 1-year high of $11.48. The company has a 50-day moving average of $9.23 and a 200 day moving average of $9.59. The firm has a market cap of $13.29 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73.

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

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd were issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.55%. The ex-dividend date was Thursday, May 22nd. Amcor’s payout ratio is 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.