Amcor PLC $AMCR Shares Sold by Quantinno Capital Management LP

Quantinno Capital Management LP reduced its position in shares of Amcor PLC (NYSE:AMCR) by 68.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 501,089 shares of the company’s stock after selling 1,086,682 shares during the period. Quantinno Capital Management LP owned about 0.11% of Amcor worth $19,918,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Capital International Investors purchased a new position in Amcor during the 4th quarter valued at about $354,227,000. Norges Bank purchased a new stake in Amcor during the fourth quarter worth about $308,724,000. AQR Capital Management LLC increased its stake in Amcor by 398.6% during the second quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after purchasing an additional 12,803,785 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Amcor during the fourth quarter worth about $103,713,000. Finally, Invesco Ltd. lifted its position in shares of Amcor by 29.9% during the third 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 in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMCR has been the subject of a number of research reports. BMO Capital Markets started coverage on shares of Amcor in a report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price objective for the company. Wells Fargo & Company set a $43.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. decreased their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Citigroup decreased their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Truist Financial restated a “buy” rating and issued a $51.00 price target (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 issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.08.

Amcor Trading Down 0.4%

Shares of NYSE:AMCR opened at $44.96 on Friday. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The company’s 50 day moving average is $41.89 and its two-hundred day moving average is $42.33. 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 company has a market cap of $20.79 billion, a PE ratio of 31.44, a P/E/G ratio of 1.41 and a beta of 0.62.

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

Amcor Announces Dividend

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 5.8%. 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.