Amcor PLC $AMCR Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC trimmed its position in shares of Amcor PLC (NYSE:AMCR) by 67.5% during the first quarter, HoldingsChannel reports. The fund owned 20,084 shares of the company’s stock after selling 41,766 shares during the quarter. Bleakley Financial Group LLC’s holdings in Amcor were worth $798,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. AdvisorNet Financial Inc purchased a new position in Amcor in the 1st quarter valued at approximately $25,000. Root Financial Partners LLC purchased a new stake in shares of Amcor in the first quarter valued at $41,000. American Capital Advisory LLC acquired a new position in shares of Amcor in the first quarter valued at approximately $44,000. CENTRAL TRUST Co acquired a new position in Amcor in the 1st quarter valued at $49,000. Finally, Ascentis Independent Advisors acquired a new position in Amcor in the first quarter valued at $85,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Down 2.0%

NYSE:AMCR opened at $43.96 on Friday. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The stock has a market cap of $20.32 billion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 1.41 and a beta of 0.62. The stock’s 50-day moving average is $40.65 and its two-hundred day moving average is $42.18.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the firm earned $0.90 EPS. Amcor’s revenue for the quarter was up 77.4% on a year-over-year basis. As a group, equities research analysts forecast that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were given a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.9%. Amcor’s dividend payout ratio (DPR) is currently 181.82%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AMCR shares. 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. 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. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. 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 report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.40.

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.