Amcor PLC $AMCR Shares Sold by Lyrical Asset Management LP

Lyrical Asset Management LP decreased its stake in Amcor PLC (NYSE:AMCR) by 3.5% in the 4th quarter, Holdings Channel reports. The firm owned 13,498,709 shares of the company’s stock after selling 486,600 shares during the quarter. Amcor accounts for approximately 1.6% of Lyrical Asset Management LP’s portfolio, making the stock its 28th biggest position. Lyrical Asset Management LP’s holdings in Amcor were worth $112,579,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dakota Wealth Management lifted its position in shares of Amcor by 74.6% in the fourth quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock valued at $2,881,000 after acquiring an additional 147,639 shares in the last quarter. PFG Investments LLC purchased a new position in Amcor in the 4th quarter valued at about $262,000. Vanguard Group Inc. lifted its holdings in Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after purchasing an additional 1,845,627 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Amcor by 64.0% during the 4th quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock worth $2,034,000 after purchasing an additional 94,753 shares during the last quarter. Finally, Code Waechter LLC grew its holdings in shares of Amcor by 105.1% during the fourth quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock worth $451,000 after buying an additional 27,725 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

NYSE:AMCR opened at $38.13 on Monday. The company has a market cap of $17.63 billion, a P/E ratio of 26.67, a P/E/G ratio of 1.15 and a beta of 0.64. The firm’s 50 day moving average is $39.33 and its two-hundred day moving average is $42.12. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the prior year, the firm posted $0.90 EPS. The business’s revenue for the quarter was up 77.4% on a year-over-year basis. Analysts expect that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 6.8%. The ex-dividend date is Thursday, May 28th. Amcor’s dividend payout ratio is currently 181.82%.

Analysts Set New Price Targets

AMCR has been the topic of several recent analyst reports. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wells Fargo & Company set a $41.00 price target on Amcor and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target on the stock. Truist Financial reaffirmed a “buy” rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. reduced their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.33.

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.