Foster & Motley Inc. Sells 84,583 Shares of Amcor PLC $AMCR

Foster & Motley Inc. reduced its stake in shares of Amcor PLC (NYSE:AMCR) by 83.3% in the first quarter, Holdings Channel reports. The firm owned 16,989 shares of the company’s stock after selling 84,583 shares during the period. Foster & Motley Inc.’s holdings in Amcor were worth $675,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Dakota Wealth Management grew its stake in Amcor by 74.6% in the 4th quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock worth $2,881,000 after acquiring an additional 147,639 shares in the last quarter. PFG Investments LLC bought a new stake in shares of Amcor during the fourth quarter valued at approximately $262,000. Vanguard Group Inc. raised its stake in shares of 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 in the last quarter. Code Waechter LLC boosted its holdings in shares of Amcor by 105.1% in the fourth quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock valued at $451,000 after purchasing an additional 27,725 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Amcor by 64.0% in the fourth quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock valued at $2,034,000 after purchasing an additional 94,753 shares during the period. 45.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on AMCR shares. Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Wells Fargo & Company set a $41.00 price target on Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Citigroup dropped their price target on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Truist Financial restated a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Amcor currently has an average rating of “Moderate Buy” and a consensus target price of $49.33.

Amcor Stock Performance

Shares of NYSE:AMCR opened at $43.11 on Friday. The firm has a 50 day moving average of $39.45 and a 200 day moving average of $41.94. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $19.93 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94.

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

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were issued a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 6.0%. Amcor’s payout ratio is currently 181.82%.

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.