Intrua Financial LLC Decreases Stake in Amcor PLC $AMCR

Intrua Financial LLC reduced its stake in shares of Amcor PLC (NYSE:AMCR) by 72.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,725 shares of the company’s stock after selling 15,038 shares during the quarter. Intrua Financial LLC’s holdings in Amcor were worth $228,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Dakota Wealth Management grew its position in shares of Amcor by 74.6% in the fourth quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock valued at $2,881,000 after purchasing an additional 147,639 shares during the last quarter. PFG Investments LLC acquired a new position in shares of Amcor during the 4th quarter worth approximately $262,000. Vanguard Group Inc. lifted its stake in Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after buying an additional 1,845,627 shares in the last quarter. Code Waechter LLC lifted its stake in Amcor by 105.1% in the 4th quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock valued at $451,000 after buying an additional 27,725 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in Amcor by 64.0% during the 4th quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock valued at $2,034,000 after buying an additional 94,753 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective for the company. Wells Fargo & Company set a $41.00 price target on shares of Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Truist Financial reiterated a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Citigroup cut their price objective 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, Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note 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 presently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Amcor Trading Up 0.7%

Shares of AMCR stock opened at $43.64 on Thursday. The firm’s 50-day simple moving average is $39.57 and its 200-day simple moving average is $42.00. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The firm has a market cap of $20.18 billion, a P/E ratio of 30.52, a PEG ratio of 1.31 and a beta of 0.62.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. The business had revenue of $5.91 billion during 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. As a group, equities analysts forecast that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were issued 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 was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is presently 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.