Isthmus Partners LLC Decreases Stake in Amcor PLC $AMCR

Isthmus Partners LLC lessened its holdings in shares of Amcor PLC (NYSE:AMCR) by 84.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 294,680 shares of the company’s stock after selling 1,638,724 shares during the period. Isthmus Partners LLC owned approximately 0.06% of Amcor worth $11,714,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Amcor by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock worth $2,596,000 after purchasing an additional 20,757 shares during the period. Focus Partners Wealth lifted its stake in shares of Amcor by 11.3% in the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock valued at $418,000 after purchasing an additional 4,396 shares during the period. Sivia Capital Partners LLC purchased a new stake in Amcor during the second quarter worth about $138,000. Arrowstreet Capital Limited Partnership purchased a new stake in Amcor during the second quarter worth about $6,426,000. Finally, CW Advisors LLC acquired a new position in Amcor during the second quarter worth about $228,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

AMCR has been the subject of a number of research reports. JPMorgan Chase & Co. reduced 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. Deutsche Bank Aktiengesellschaft initiated 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 reaffirmed a “buy” rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Citigroup reduced their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Wells Fargo & Company set a $41.00 target price on Amcor and gave the company an “equal weight” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Amcor Trading Down 5.7%

Shares of AMCR opened at $41.91 on Thursday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The stock has a market cap of $19.38 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 1.25 and a beta of 0.62. The firm has a 50 day simple moving average of $40.01 and a 200-day simple moving average of $42.09.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting analysts’ consensus estimates of $0.96. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.Amcor’s quarterly revenue was up 77.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 EPS. Equities analysts forecast 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 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 of this dividend was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.2%. Amcor’s dividend payout ratio (DPR) 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.