Amcor PLC $AMCR Stock Holdings Trimmed by Keybank National Association OH

Keybank National Association OH reduced its stake in shares of Amcor PLC (NYSE:AMCR) by 77.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,465 shares of the company’s stock after selling 19,024 shares during the quarter. Keybank National Association OH’s holdings in Amcor were worth $217,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMCR. AdvisorNet Financial Inc acquired a new stake in Amcor in the first quarter worth approximately $25,000. DV Equities LLC bought a new position in shares of Amcor during the 4th quarter valued at about $27,000. Brown Lisle Cummings Inc. boosted its position in shares of Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after purchasing an additional 1,257 shares during the last quarter. Finally, N.E.W. Advisory Services LLC grew its stake in shares of 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 purchasing an additional 373 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Trading Up 1.1%

Shares of NYSE:AMCR traded up $0.48 during mid-day trading on Friday, hitting $43.18. The stock had a trading volume of 2,267,386 shares, compared to its average volume of 3,111,503. 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 market cap of $19.96 billion, a PE ratio of 30.19, a P/E/G ratio of 1.22 and a beta of 0.62. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The company’s 50 day moving average is $40.21 and its 200-day moving average is $42.11.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The company’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. On average, sell-side analysts predict that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 6.0%. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

Analysts Set New Price Targets

AMCR has been the subject of several recent research reports. Truist Financial reissued a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research note 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. JPMorgan Chase & Co. cut 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. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective for the company. Finally, Citigroup cut their target price on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.00.

About Amcor

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.