Intech Investment Management LLC Decreases Position in Amcor PLC $AMCR

Intech Investment Management LLC cut its stake in shares of Amcor PLC (NYSE:AMCR) by 40.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,479 shares of the company’s stock after selling 70,056 shares during the period. Intech Investment Management LLC’s holdings in Amcor were worth $855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC raised its position in Amcor by 10.1% during the fourth 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 during the period. CYBER HORNET ETFs LLC raised its position in Amcor by 11.1% during the fourth quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock valued at $37,000 after purchasing an additional 447 shares during the period. United Asset Strategies Inc. raised its holdings in shares of Amcor by 1.6% in the fourth quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock worth $321,000 after buying an additional 597 shares during the period. IFP Advisors Inc raised its holdings in shares of Amcor by 12.7% in the fourth quarter. IFP Advisors Inc now owns 6,518 shares of the company’s stock worth $54,000 after buying an additional 733 shares during the period. Finally, Shayne & Jacobs LLC raised its holdings in shares of Amcor by 0.6% in the fourth quarter. Shayne & Jacobs LLC now owns 129,101 shares of the company’s stock worth $1,077,000 after buying an additional 755 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AMCR shares. JPMorgan Chase & Co. reduced their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target on the stock. Truist Financial reiterated a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Finally, Wells Fargo & Company set a $41.00 price target on Amcor and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Amcor presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

Amcor Stock Up 0.0%

Shares of NYSE AMCR opened at $38.13 on Monday. 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 stock has a market capitalization of $17.63 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 1.15 and a beta of 0.64. The stock’s fifty day simple moving average is $39.33 and its two-hundred day simple moving average is $42.12. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94.

Amcor (NYSE:AMCR) last announced its earnings results 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 return on equity of 14.55% and a net margin of 3.06%.The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter last year, the firm earned $0.90 EPS. The business’s revenue for the quarter was up 77.4% on a year-over-year basis. As a group, analysts expect that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be paid a dividend of $0.65 per share. The ex-dividend date is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.8%. Amcor’s dividend payout ratio (DPR) is presently 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.