Isthmus Partners LLC Sells 70,000 Shares of Amcor PLC $AMCR

Isthmus Partners LLC reduced its holdings in Amcor PLC (NYSE:AMCR) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,933,404 shares of the company’s stock after selling 70,000 shares during the quarter. Amcor accounts for about 1.8% of Isthmus Partners LLC’s investment portfolio, making the stock its 12th largest position. Isthmus Partners LLC owned 0.42% of Amcor worth $16,125,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMCR. Quent Capital LLC bought a new position in Amcor in the 3rd quarter worth about $27,000. Brown Lisle Cummings Inc. increased its stake in Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after acquiring an additional 2,000 shares during the last quarter. N.E.W. Advisory Services LLC increased its stake in Amcor by 10.1% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after acquiring an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in Amcor in the 2nd quarter worth about $36,000. Finally, Huntington National Bank increased its position in shares of Amcor by 81.8% during 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 during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Down 4.9%

Shares of AMCR opened at $36.71 on Friday. The firm has a market cap of $16.97 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.17 and a beta of 0.63. The stock has a 50 day simple moving average of $40.08 and a two-hundred day simple moving average of $42.41. 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 $36.67 and a 1 year high of $50.94.

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

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 7.1%. The ex-dividend date is Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

Analyst Upgrades and Downgrades

AMCR has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective on the stock. Robert W. Baird set a $54.00 target price on Amcor in a research note on Wednesday, February 4th. Morgan Stanley lowered Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 target price for the company. in a research note on Wednesday, January 28th. JPMorgan Chase & Co. cut their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.56.

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.