Diversify Wealth Management LLC Sells 399,993 Shares of Amcor PLC $AMCR

Diversify Wealth Management LLC lowered its position in shares of Amcor PLC (NYSE:AMCR) by 77.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,537 shares of the company’s stock after selling 399,993 shares during the period. Diversify Wealth Management LLC’s holdings in Amcor were worth $4,278,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Dakota Wealth Management raised its position in Amcor by 74.6% during the 4th 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 purchased a new stake in Amcor in the 4th quarter worth approximately $262,000. Vanguard Group Inc. grew its position in shares of Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after buying an additional 1,845,627 shares during the last quarter. Code Waechter LLC grew its position in shares of Amcor by 105.1% in the 4th quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock worth $451,000 after buying an additional 27,725 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Amcor by 64.0% during the fourth 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 period. Institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMCR. Wells Fargo & Company set a $41.00 target price on Amcor and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Citigroup dropped 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. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $48.00.

Amcor Trading Down 0.0%

NYSE:AMCR opened at $43.18 on Monday. The firm has a market capitalization of $19.96 billion, a P/E ratio of 30.19, a PEG ratio of 1.22 and a beta of 0.62. 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 one year low of $36.25 and a one year high of $50.94. The company’s 50-day simple moving average is $40.21 and its 200 day simple moving average is $42.11.

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

Amcor Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 6.0%. Amcor’s dividend payout ratio 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.