Stephens Inc. AR Decreases Holdings in Amcor PLC $AMCR

Stephens Inc. AR decreased its position in shares of Amcor PLC (NYSE:AMCR) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 430,781 shares of the company’s stock after selling 40,404 shares during the period. Stephens Inc. AR owned 0.09% of Amcor worth $3,593,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quent Capital LLC purchased a new stake in Amcor during the third quarter valued at approximately $27,000. Brown Lisle Cummings Inc. lifted its position in Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Amcor during the second quarter valued at approximately $36,000. N.E.W. Advisory Services LLC lifted its position in Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after acquiring an additional 373 shares during the last quarter. Finally, Huntington National Bank lifted its position in Amcor by 81.8% during the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after acquiring an additional 2,020 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMCR. Deutsche Bank Aktiengesellschaft began coverage on shares of Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price for the company. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Morgan Stanley cut shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 target price for the company. in a research report on Wednesday, January 28th. Citigroup decreased their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Robert W. Baird set a $54.00 price target on shares of Amcor in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.56.

Amcor Stock Up 2.2%

AMCR stock opened at $37.49 on Tuesday. The firm has a market cap of $17.33 billion, a PE ratio of 26.22, a P/E/G ratio of 1.11 and a beta of 0.63. 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 firm’s fifty day moving average is $39.96 and its 200 day moving average is $42.39. Amcor PLC has a one year low of $36.67 and a one year high of $50.94.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. The company had revenue of $5.91 billion for 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% on a year-over-year basis. During the same quarter last year, the business earned $0.90 earnings per share. On average, research analysts forecast that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 6.9%. The ex-dividend date is Thursday, May 28th. 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.