Blue Trust Inc. Lowers Holdings in Amcor PLC $AMCR

Blue Trust Inc. reduced its position in Amcor PLC (NYSE:AMCR) by 81.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,623 shares of the company’s stock after selling 47,612 shares during the quarter. Blue Trust Inc.’s holdings in Amcor were worth $422,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. CENTRAL TRUST Co acquired a new stake in shares of Amcor in the 1st quarter worth $49,000. AdvisorNet Financial Inc acquired a new position in shares of Amcor during the 1st quarter worth approximately $25,000. Anchyra Partners LLC acquired a new position in shares of Amcor during the 1st quarter worth approximately $247,000. Rockefeller Capital Management L.P. lifted its stake in Amcor by 55.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,307,985 shares of the company’s stock valued at $10,909,000 after buying an additional 467,065 shares in the last quarter. Finally, Alpine Global Management LLC lifted its stake in Amcor by 13.1% in the 4th quarter. Alpine Global Management LLC now owns 203,131 shares of the company’s stock valued at $1,694,000 after buying an additional 23,534 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Ratings Changes

AMCR has been the topic of a number of analyst reports. Truist Financial reiterated a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Finally, Wells Fargo & Company set a $41.00 price objective on Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $49.33.

Amcor Stock Performance

Shares of AMCR stock opened at $43.11 on Monday. Amcor PLC has a one year low of $36.25 and a one year high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The company has a 50 day moving average price of $39.45 and a 200 day moving average price of $41.95. The firm has a market capitalization of $19.93 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates 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 net margin of 3.06% and a return on equity of 14.55%. Amcor’s revenue was up 77.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 earnings per share. Sell-side analysts anticipate that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.

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.