Associated Banc Corp Sells 174,936 Shares of Amcor PLC $AMCR

Associated Banc Corp decreased its stake in Amcor PLC (NYSE:AMCR) by 80.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 42,765 shares of the company’s stock after selling 174,936 shares during the quarter. Associated Banc Corp’s holdings in Amcor were worth $1,700,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. AdvisorNet Financial Inc purchased a new stake in Amcor during the 1st quarter valued at $25,000. DV Equities LLC purchased a new position in Amcor during the fourth quarter worth $27,000. Brown Lisle Cummings Inc. boosted its stake in Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares during the period. Larson Financial Group LLC increased its position in Amcor by 46.1% during the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after acquiring an additional 1,257 shares during the last quarter. Finally, N.E.W. Advisory Services LLC increased its position in Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after acquiring an additional 373 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of AMCR stock opened at $43.18 on Monday. 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 business’s 50 day moving average is $40.21 and its two-hundred day moving average is $42.11. The company has a market capitalization of $19.96 billion, a P/E ratio of 30.19, a P/E/G ratio of 1.22 and a beta of 0.62.

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

Amcor Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMCR. JPMorgan Chase & Co. lowered their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Wells Fargo & Company set a $41.00 price target on shares of Amcor and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. 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 note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

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.