Amcor PLC $AMCR Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC decreased its holdings in Amcor PLC (NYSE:AMCR) by 88.6% in the 1st quarter, HoldingsChannel reports. The firm owned 15,539 shares of the company’s stock after selling 121,103 shares during the quarter. Sterling Capital Management LLC’s holdings in Amcor were worth $618,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Amcor by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock valued at $2,596,000 after buying an additional 20,757 shares during the period. Focus Partners Wealth lifted its stake in shares of Amcor by 11.3% in the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after acquiring an additional 4,396 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Amcor in the second quarter valued at approximately $138,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Amcor during the second quarter valued at approximately $6,426,000. Finally, CW Advisors LLC acquired a new position in shares of Amcor during the second quarter valued at approximately $228,000. Institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMCR. Truist Financial restated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. cut 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. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Amcor Stock Performance

Shares of Amcor stock opened at $43.64 on Thursday. 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 firm has a market cap of $20.18 billion, a P/E ratio of 30.52, a P/E/G ratio of 1.31 and a beta of 0.62. The firm has a 50 day simple moving average of $39.57 and a 200 day simple moving average of $42.00. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The firm 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 business’s revenue for the quarter was up 77.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. Sell-side analysts predict that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently announced 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 was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.0%. Amcor’s payout ratio 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.