Janney Montgomery Scott LLC Trims Position in Amcor PLC $AMCR

Janney Montgomery Scott LLC decreased its position in shares of Amcor PLC (NYSE:AMCR) by 77.4% during the first quarter, Holdings Channel reports. The institutional investor owned 318,206 shares of the company’s stock after selling 1,086,833 shares during the period. Janney Montgomery Scott LLC’s holdings in Amcor were worth $12,649,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Amcor by 8.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock valued at $2,596,000 after acquiring an additional 20,757 shares during the period. Focus Partners Wealth grew its position in shares of Amcor by 11.3% during the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after purchasing an additional 4,396 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Amcor during the second quarter worth about $138,000. Arrowstreet Capital Limited Partnership bought a new stake in Amcor during the 2nd quarter valued at approximately $6,426,000. Finally, CW Advisors LLC bought a new stake in Amcor during the 2nd quarter valued at approximately $228,000. Institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

AMCR has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Finally, Citigroup cut their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Amcor Stock Performance

NYSE AMCR opened at $43.64 on Thursday. The company has a market cap of $20.18 billion, a P/E ratio of 30.52, a P/E/G ratio of 1.31 and a beta of 0.62. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The business’s 50 day moving average price is $39.57 and its 200-day moving average price is $42.00. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.96. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.Amcor’s revenue was up 77.4% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. Sell-side analysts predict that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

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. This represents a $2.60 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.

Amcor 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.