OLD National Bancorp IN Has $257,000 Stock Position in Amcor PLC $AMCR

OLD National Bancorp IN lowered its position in Amcor PLC (NYSE:AMCR) by 69.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,471 shares of the company’s stock after selling 14,592 shares during the quarter. OLD National Bancorp IN’s holdings in Amcor were worth $257,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. N.E.W. Advisory Services LLC lifted its holdings 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 last quarter. CYBER HORNET ETFs LLC grew its stake in shares of Amcor by 11.1% in the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock valued at $37,000 after buying an additional 447 shares in the last quarter. FineMark National Bank & Trust increased its holdings in Amcor by 0.6% in the fourth quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock worth $671,000 after buying an additional 503 shares during the last quarter. United Asset Strategies Inc. increased its holdings in Amcor by 1.6% in the fourth quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock worth $321,000 after buying an additional 597 shares during the last quarter. Finally, AdvisorNet Financial Inc bought a new position in Amcor during the first quarter valued at approximately $25,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Amcor Stock Up 0.2%

AMCR opened at $43.11 on Monday. The firm has a market cap of $19.93 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64. 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 business has a 50 day moving average price of $39.45 and a 200 day moving average price of $41.95. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94.

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

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were paid a $0.65 dividend. The ex-dividend date 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 presently 181.82%.

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.