Amcor PLC $AMCR Shares Sold by Simplicity Wealth LLC

Simplicity Wealth LLC cut its stake in Amcor PLC (NYSE:AMCR) by 81.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,728 shares of the company’s stock after selling 24,771 shares during the period. Simplicity Wealth LLC’s holdings in Amcor were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of AMCR. Capital International Investors purchased a new stake in shares of Amcor during the fourth quarter valued at $354,227,000. Norges Bank purchased a new position in Amcor in the 4th quarter worth $308,724,000. AQR Capital Management LLC lifted its position in Amcor by 398.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after acquiring an additional 12,803,785 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Amcor during the 4th quarter worth about $103,713,000. Finally, Invesco Ltd. grew its stake in Amcor by 29.9% during the 3rd quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock valued at $385,373,000 after purchasing an additional 10,846,351 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

NYSE AMCR opened at $43.41 on Thursday. The firm has a market capitalization of $20.07 billion, a P/E ratio of 30.36, a PEG ratio of 1.21 and a beta of 0.62. The stock has a 50-day simple moving average of $40.47 and a two-hundred day simple moving average of $42.14. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94.

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

Amcor Announces Dividend

The business 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. This represents a $2.60 annualized dividend and a yield of 6.0%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio is currently 181.82%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMCR. Wells Fargo & Company set a $43.00 price objective on Amcor and gave the company an “equal weight” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price on the stock. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Truist Financial reissued a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Amcor currently has an average rating of “Moderate Buy” and a consensus target price of $48.56.

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.