Intech Investment Management LLC Trims Stock Position in Amcor PLC $AMCR

Intech Investment Management LLC lowered its stake in shares of Amcor PLC (NYSE:AMCR) by 40.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 102,479 shares of the company’s stock after selling 70,056 shares during the period. Intech Investment Management LLC’s holdings in Amcor were worth $855,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Brown Lisle Cummings Inc. raised its stake in shares of Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after buying an additional 2,000 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Amcor by 46.1% during the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after buying an additional 1,257 shares during the last quarter. N.E.W. Advisory Services LLC raised its stake in shares of Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after buying an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of Amcor in the 2nd quarter valued at about $36,000. Finally, Huntington National Bank increased its stake in shares of Amcor by 81.8% in the 3rd quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after purchasing an additional 2,020 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 0.0%

Shares of Amcor stock opened at $38.13 on Monday. The stock 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 stock’s 50 day simple moving average is $39.33 and its 200-day simple moving average is $42.12. Amcor PLC has a 1-year low of $36.25 and a 1-year 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.

Amcor (NYSE:AMCR) last announced 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 firm 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 business posted $0.90 earnings per share. The firm’s revenue was up 77.4% compared to the same quarter last year. Analysts predict that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. 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 target for the company. Citigroup cut their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. JPMorgan Chase & Co. cut their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Truist Financial restated a “buy” rating and issued 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, eight have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.