RBF Capital LLC Decreases Stock Position in Amcor PLC $AMCR

RBF Capital LLC lessened its holdings in Amcor PLC (NYSE:AMCR) by 81.6% during the 1st quarter, Holdings Channel reports. The firm owned 133,787 shares of the company’s stock after selling 592,278 shares during the quarter. RBF Capital LLC’s holdings in Amcor were worth $5,318,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. PFG Investments LLC acquired a new stake in Amcor during the fourth quarter worth approximately $262,000. Vanguard Group Inc. grew its position in Amcor by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after acquiring an additional 1,845,627 shares during the period. Code Waechter LLC increased its position in Amcor by 105.1% during the 4th quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock worth $451,000 after purchasing an additional 27,725 shares in the last quarter. Mountain Hill Investment Partners Corp. increased its position in shares of Amcor by 22.4% in the fourth quarter. Mountain Hill Investment Partners Corp. now owns 858,620 shares of the company’s stock worth $7,161,000 after acquiring an additional 157,300 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Amcor in the 4th quarter valued at $459,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Ratings Changes

AMCR has been the topic of a number of analyst reports. Jefferies Financial Group set a $44.92 price objective on shares of Amcor and gave the company a “hold” rating in a research note on Tuesday, July 21st. BMO Capital Markets initiated coverage on Amcor in a report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Wells Fargo & Company set a $43.00 price target on Amcor and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. Finally, Bank of America lifted their price objective on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.08.

Amcor Price Performance

NYSE:AMCR opened at $45.87 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The firm has a market cap of $21.21 billion, a P/E ratio of 32.08, a PEG ratio of 1.46 and a beta of 0.62. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94. The business’s 50-day moving average price is $41.62 and its 200 day moving average price is $42.30.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting analysts’ consensus estimates of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s quarterly revenue was up 77.4% compared to the same quarter last year. As a group, sell-side 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. Stockholders of record on Thursday, May 28th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s dividend payout ratio is 181.82%.

About Amcor

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.