Raleigh Capital Management Inc. Sells 134,262 Shares of Amcor PLC $AMCR

Raleigh Capital Management Inc. trimmed its stake in Amcor PLC (NYSE:AMCR) by 72.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,371 shares of the company’s stock after selling 134,262 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Amcor were worth $2,002,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Amcor by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock valued at $2,596,000 after purchasing an additional 20,757 shares during the last quarter. Focus Partners Wealth increased its position in Amcor by 11.3% in the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after buying an additional 4,396 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Amcor in the second quarter worth $138,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Amcor in the second quarter valued at $6,426,000. Finally, CW Advisors LLC bought a new stake in shares of Amcor in the second quarter valued at $228,000. 45.14% of the stock is owned by institutional investors.

Amcor Price Performance

Shares of NYSE AMCR opened at $44.98 on Friday. The stock has a market cap of $20.80 billion, a PE ratio of 31.46, a price-to-earnings-growth ratio of 1.27 and a beta of 0.62. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. 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 stock has a fifty day moving average of $39.75 and a 200-day moving average of $42.04.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 prior year, the firm posted $0.90 EPS. The firm’s quarterly revenue was up 77.4% on a year-over-year basis. Equities research analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current 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 was Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. Amcor’s dividend payout ratio is currently 181.82%.

Analyst Upgrades and Downgrades

AMCR has been the subject of several research reports. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective on the stock. Citigroup reduced their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

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.