Evolve Private Wealth LLC Trims Position in Amcor PLC $AMCR

Evolve Private Wealth LLC lowered its holdings in Amcor PLC (NYSE:AMCR) by 86.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,557 shares of the company’s stock after selling 36,613 shares during the period. Evolve Private Wealth LLC’s holdings in Amcor were worth $221,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. DV Equities LLC acquired a new stake in shares of Amcor in the fourth quarter worth approximately $27,000. Brown Lisle Cummings Inc. raised 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 purchasing an additional 2,000 shares during the period. Larson Financial Group LLC boosted its holdings 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 valued at $33,000 after purchasing an additional 1,257 shares during the last quarter. N.E.W. Advisory Services LLC grew its stake in shares of Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after buying an additional 373 shares during the period. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of Amcor during the 2nd quarter worth $36,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMCR has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target for the company. JPMorgan Chase & Co. dropped their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Truist Financial reissued a “buy” rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Finally, Citigroup reduced their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Amcor currently has an average rating of “Moderate Buy” and a consensus target price of $49.33.

Amcor Stock Up 0.2%

Shares of Amcor stock opened at $43.11 on Monday. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The company has a market capitalization of $19.93 billion, a PE ratio of 30.15, a P/E/G ratio of 1.30 and a beta of 0.64. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The business has a 50-day moving average of $39.45 and a 200-day moving average of $41.95.

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

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders 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 dividend yield of 6.0%. Amcor’s dividend payout ratio (DPR) 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.