Amcor PLC $AMCR Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its stake in shares of Amcor PLC (NYSE:AMCR) by 45.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,042,577 shares of the company’s stock after selling 2,548,134 shares during the quarter. BNP Paribas Financial Markets’ holdings in Amcor were worth $25,375,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. N.E.W. Advisory Services LLC increased its holdings 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 buying an additional 373 shares during the period. CYBER HORNET ETFs LLC increased its holdings in Amcor by 11.1% in the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock worth $37,000 after buying an additional 447 shares during the period. United Asset Strategies Inc. increased its holdings in Amcor by 1.6% in the 4th quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock worth $321,000 after buying an additional 597 shares during the period. IFP Advisors Inc increased its holdings in Amcor by 12.7% in the 4th quarter. IFP Advisors Inc now owns 6,518 shares of the company’s stock worth $54,000 after buying an additional 733 shares during the period. Finally, Shayne & Jacobs LLC increased its holdings in Amcor by 0.6% in the 4th quarter. Shayne & Jacobs LLC now owns 129,101 shares of the company’s stock worth $1,077,000 after buying an additional 755 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Down 0.6%

Amcor stock opened at $37.64 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94. The stock’s 50 day simple moving average is $39.38 and its two-hundred day simple moving average is $42.15. The firm has a market cap of $17.40 billion, a PE ratio of 26.32, a P/E/G ratio of 1.14 and a beta of 0.64.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 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 for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. The business’s quarterly revenue was up 77.4% compared to the same quarter last year. Analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 6.9%. The ex-dividend date is Thursday, May 28th. Amcor’s dividend payout ratio is currently 181.82%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AMCR shares. Citigroup cut their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target on the stock. Truist Financial reiterated a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. JPMorgan Chase & Co. cut their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One equities 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.