Amcor PLC $AMCR Shares Sold by Wealth Alliance LLC

Wealth Alliance LLC lowered its position in Amcor PLC (NYSE:AMCR) by 55.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,419 shares of the company’s stock after selling 39,138 shares during the period. Wealth Alliance LLC’s holdings in Amcor were worth $1,249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMCR. Capital International Investors purchased a new position in shares of Amcor during the fourth quarter worth $354,227,000. Norges Bank purchased a new stake in Amcor in the fourth quarter valued at $308,724,000. AQR Capital Management LLC boosted its holdings in Amcor by 398.6% in the second quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock valued at $147,184,000 after purchasing an additional 12,803,785 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Amcor during the 4th quarter worth about $103,713,000. Finally, Invesco Ltd. grew its position in Amcor by 29.9% during the 3rd quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after purchasing an additional 10,846,351 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE AMCR opened at $44.60 on Friday. The firm has a market cap of $20.62 billion, a PE ratio of 31.19, a PEG ratio of 1.40 and a beta of 0.62. The firm has a fifty day moving average of $41.11 and a 200 day moving average of $42.23. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. Amcor PLC has a one year low of $36.25 and a one year high of $50.94.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period last year, the firm posted $0.90 earnings per share. The company’s revenue was up 77.4% compared to the same quarter last year. As a group, research analysts predict that Amcor PLC will post 3.97 EPS 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 given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio is 181.82%.

Wall Street Analysts Forecast Growth

AMCR has been the subject of several analyst reports. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup dropped their target price on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target for the company. BMO Capital Markets initiated coverage on Amcor in a research report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price objective on the stock. Finally, Wells Fargo & Company set a $43.00 price objective on Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.