D.A. Davidson & CO. Sells 99,158 Shares of Amcor PLC $AMCR

D.A. Davidson & CO. decreased its holdings in Amcor PLC (NYSE:AMCR) by 67.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 47,607 shares of the company’s stock after selling 99,158 shares during the period. D.A. Davidson & CO.’s holdings in Amcor were worth $1,892,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Citizens National Bank Trust Department bought a new stake in Amcor during the first quarter valued at approximately $1,251,000. Hsbc Holdings PLC lifted its stake in shares of Amcor by 1,620.5% during the 1st quarter. Hsbc Holdings PLC now owns 672,649 shares of the company’s stock valued at $26,592,000 after buying an additional 633,554 shares in the last quarter. Ibex Wealth Advisors purchased a new stake in Amcor in the 1st quarter worth $6,732,000. Greenwood Capital Associates LLC bought a new position in shares of Amcor in the first quarter worth about $1,197,000. Finally, American Capital Advisory LLC bought a new position in shares of Amcor in the first quarter worth about $44,000. 45.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMCR has been the subject of several research analyst reports. Truist Financial reaffirmed 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 research report on Monday, May 11th. Bank of America upped their price target on shares of Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Jefferies Financial Group set a $44.92 target price on Amcor in a report on Tuesday. Finally, BMO Capital Markets assumed coverage on Amcor in a research report on Thursday, July 16th. They set a “market perform” rating and a $47.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Amcor presently has an average rating of “Moderate Buy” and an average price target of $48.08.

Amcor Price Performance

Shares of NYSE AMCR opened at $43.48 on Wednesday. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week 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 market cap of $20.10 billion, a PE ratio of 30.41, a P/E/G ratio of 1.36 and a beta of 0.62. The business has a 50-day simple moving average of $40.79 and a two-hundred day simple moving average of $42.20.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates 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 period last year, the firm posted $0.90 EPS. As a group, equities analysts expect that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared 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 of this dividend 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 currently 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.