Quantinno Capital Management LP Trims Stock Position in Amcor PLC $AMCR

Quantinno Capital Management LP lessened its stake in Amcor PLC (NYSE:AMCR) by 68.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 501,089 shares of the company’s stock after selling 1,086,682 shares during the period. Quantinno Capital Management LP’s holdings in Amcor were worth $19,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in shares of Amcor by 1.7% during the fourth quarter. State Street Corp now owns 141,509,581 shares of the company’s stock worth $1,180,190,000 after purchasing an additional 2,432,340 shares in the last quarter. M&G PLC grew its stake in Amcor by 6.1% during the 4th quarter. M&G PLC now owns 114,989,595 shares of the company’s stock worth $919,917,000 after buying an additional 6,655,611 shares during the last quarter. Vanguard Group Inc. grew its stake in Amcor by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after buying an additional 1,845,627 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Amcor by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock worth $701,356,000 after buying an additional 2,036,667 shares during the period. Finally, Geode Capital Management LLC increased its position in Amcor by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock worth $533,487,000 after buying an additional 262,418 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Down 0.4%

AMCR opened at $44.96 on Friday. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The business has a 50 day moving average price of $41.89 and a two-hundred day moving average price of $42.33. 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 cap of $20.79 billion, a PE ratio of 31.44, a P/E/G ratio of 1.41 and a beta of 0.62.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. The company 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% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. As a group, research analysts anticipate that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BMO Capital Markets started coverage on Amcor in a research note on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price objective for the company. Wells Fargo & Company set a $43.00 target price on shares of Amcor and gave the company an “equal weight” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. reduced their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Jefferies Financial Group set a $44.92 price target on shares of Amcor and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Finally, Truist Financial reissued a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.08.

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.