Amcor PLC $AMCR Shares Sold by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. reduced its position in shares of Amcor PLC (NYSE:AMCR) by 72.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,013 shares of the company’s stock after selling 15,704 shares during the period. Meeder Advisory Services Inc.’s holdings in Amcor were worth $239,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMCR. Parallel Advisors LLC purchased a new stake in shares of Amcor in the 1st quarter valued at approximately $183,000. SEB Asset Management AB acquired a new stake in shares of Amcor in the first quarter valued at $3,831,000. Palladiem LLC acquired a new position in Amcor in the 1st quarter valued at about $34,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Amcor during the first quarter worth about $49,000. Finally, SteelPeak Wealth LLC purchased a new position in shares of Amcor in the first quarter valued at approximately $863,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMCR has been the topic of several recent research reports. Bank of America upped their target price on shares of Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. dropped their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Jefferies Financial Group set a $44.92 price objective on Amcor and gave the stock a “hold” rating in a research report on Tuesday. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Truist Financial reiterated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.08.

Amcor Stock Performance

Shares of AMCR stock opened at $42.68 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 firm has a fifty day moving average price of $40.96 and a 200 day moving average price of $42.21. The company has a market cap of $19.73 billion, a P/E ratio of 29.84, a PEG ratio of 1.36 and a beta of 0.62. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94.

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. The company had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.Amcor’s quarterly revenue was up 77.4% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. Sell-side analysts predict that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.1%. Amcor’s payout ratio is presently 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.