SG Americas Securities LLC Sells 1,780,678 Shares of Amcor PLC $AMCR

SG Americas Securities LLC reduced its position in Amcor PLC (NYSE:AMCR) by 84.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 315,915 shares of the company’s stock after selling 1,780,678 shares during the quarter. SG Americas Securities LLC owned 0.07% of Amcor worth $12,558,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its position in Amcor by 1.7% in the 4th quarter. State Street Corp now owns 141,509,581 shares of the company’s stock worth $1,180,190,000 after buying an additional 2,432,340 shares during the last quarter. M&G PLC grew its position in Amcor by 6.1% during the fourth quarter. M&G PLC now owns 114,989,595 shares of the company’s stock valued at $919,917,000 after acquiring an additional 6,655,611 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Amcor by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after acquiring an additional 1,845,627 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Amcor by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock worth $701,356,000 after acquiring an additional 2,036,667 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Amcor by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock worth $533,487,000 after acquiring an additional 262,418 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Up 0.6%

Shares of Amcor stock opened at $43.11 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94. The company’s 50 day moving average price is $39.45 and its 200-day moving average price is $41.94. The stock has a market capitalization of $19.93 billion, a price-to-earnings ratio of 30.15, a P/E/G 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 EPS for the quarter, meeting analysts’ consensus estimates of $0.96. The company 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%. The firm’s revenue was up 77.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 EPS. Equities research analysts forecast that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The company also recently disclosed 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. 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 is 181.82%.

Wall Street Analyst Weigh In

AMCR has been the subject of a number of research reports. Wells Fargo & Company set a $41.00 price objective on shares of Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price on the stock. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Citigroup reduced their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Truist Financial reiterated a “buy” rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.33.

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.