Amcor PLC $AMCR Shares Sold by Morningstar Investment Management LLC

Morningstar Investment Management LLC trimmed its stake in shares of Amcor PLC (NYSE:AMCR) by 78.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,872 shares of the company’s stock after selling 354,585 shares during the period. Morningstar Investment Management LLC’s holdings in Amcor were worth $3,771,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. AdvisorNet Financial Inc acquired a new position in Amcor in the first quarter valued at approximately $25,000. DV Equities LLC acquired a new stake in shares of Amcor during the 4th quarter worth approximately $27,000. Brown Lisle Cummings Inc. grew its stake in shares of Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after purchasing an additional 2,000 shares during the period. Larson Financial Group LLC increased its holdings in shares of Amcor by 46.1% during the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after purchasing an additional 1,257 shares in the last quarter. Finally, N.E.W. Advisory Services LLC increased its holdings in shares of Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after purchasing an additional 373 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Stock Up 4.6%

Shares of AMCR opened at $44.60 on Friday. The firm has a market cap of $20.62 billion, a P/E ratio of 31.19, a PEG ratio of 1.34 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’s 50 day moving average is $41.11 and its two-hundred day moving average is $42.23. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. The business 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%.The business’s quarterly revenue was up 77.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 EPS. Analysts predict that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s payout ratio is presently 181.82%.

Wall Street Analyst Weigh In

AMCR has been the subject of several analyst reports. Bank of America boosted their target price on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. BMO Capital Markets started 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. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Jefferies Financial Group set a $44.92 price objective on shares of Amcor and gave the stock a “hold” rating in a research report on Tuesday. Finally, Truist Financial reissued a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.08.

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.