Foster & Motley Inc. Decreases Stock Holdings in Amcor PLC $AMCR

Foster & Motley Inc. lowered its holdings in shares of Amcor PLC (NYSE:AMCR) by 83.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,989 shares of the company’s stock after selling 84,583 shares during the quarter. Foster & Motley Inc.’s holdings in Amcor were worth $675,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. AdvisorNet Financial Inc bought a new stake in shares of Amcor in the 1st quarter worth about $25,000. CENTRAL TRUST Co bought a new position in shares of Amcor in the 1st quarter valued at about $49,000. DV Equities LLC bought a new position in shares of Amcor in the 4th quarter valued at about $27,000. Brown Lisle Cummings Inc. grew its position in Amcor by 137.9% in the fourth 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 in the last quarter. Finally, CYBER HORNET ETFs LLC bought a new stake in Amcor during the second quarter worth approximately $36,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Performance

Shares of NYSE:AMCR opened at $43.11 on Friday. The company has a market capitalization of $19.93 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 1.30 and a beta of 0.64. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94. The firm’s 50-day moving average is $39.45 and its 200 day moving average is $41.94. 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 (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. Research analysts predict that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AMCR shares. Deutsche Bank Aktiengesellschaft assumed 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. Wells Fargo & Company set a $41.00 target price on Amcor and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. cut their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Citigroup lowered their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.33.

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.