Dimensional Fund Advisors LP Sells 21,067,983 Shares of Amcor PLC $AMCR

Dimensional Fund Advisors LP cut its holdings in Amcor PLC (NYSE:AMCR) by 79.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,291,963 shares of the company’s stock after selling 21,067,983 shares during the period. Dimensional Fund Advisors LP owned about 1.15% of Amcor worth $210,285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC purchased a new stake in Amcor during the 1st quarter valued at $183,000. SEB Asset Management AB bought a new position in Amcor during the first quarter valued at $3,831,000. Palladiem LLC purchased a new stake in shares of Amcor in the first quarter valued at $34,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Amcor in the first quarter worth about $49,000. Finally, SteelPeak Wealth LLC purchased a new stake in shares of Amcor in the first quarter worth approximately $863,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMCR. Wells Fargo & Company set a $43.00 price objective on Amcor and gave the company an “equal weight” rating in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective for the company. BMO Capital Markets assumed coverage on shares of Amcor in a research note on Thursday, July 16th. They set a “market perform” rating and a $47.00 price target for the company. Citigroup lowered their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Amcor has an average rating of “Moderate Buy” and an average target price of $48.08.

Amcor Stock Up 4.6%

Amcor stock opened at $44.60 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The firm has a market cap of $20.62 billion, a P/E ratio of 31.19, a P/E/G ratio of 1.34 and a beta of 0.62. The business has a fifty day moving average of $41.11 and a two-hundred day moving average of $42.23. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting 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 return on equity of 14.55% and a net margin of 3.06%.The firm’s revenue for the quarter was up 77.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 earnings per share. On average, analysts forecast that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were paid 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 dividend yield of 5.8%. Amcor’s payout ratio is presently 181.82%.

Amcor Company 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.