Kestra Advisory Services LLC Has $626,000 Holdings in Amcor PLC $AMCR

Kestra Advisory Services LLC cut its holdings in shares of Amcor PLC (NYSE:AMCR) by 80.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,760 shares of the company’s stock after selling 65,541 shares during the period. Kestra Advisory Services LLC’s holdings in Amcor were worth $626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMCR. Capital International Investors bought a new position in shares of Amcor during the 4th quarter valued at about $354,227,000. Norges Bank acquired a new stake in Amcor during the 4th quarter worth approximately $308,724,000. AQR Capital Management LLC raised its holdings in Amcor by 398.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after buying an additional 12,803,785 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Amcor in the fourth quarter valued at approximately $103,713,000. Finally, Invesco Ltd. lifted its stake in Amcor by 29.9% in the third quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock valued at $385,373,000 after buying an additional 10,846,351 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Trading Up 4.6%

NYSE:AMCR opened at $44.60 on Friday. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The business has a 50 day moving average price of $41.11 and a two-hundred day moving average price of $42.23. The company has a market cap of $20.62 billion, a P/E ratio of 31.19, a price-to-earnings-growth ratio of 1.40 and a beta of 0.62.

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

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were given a $0.65 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 5.8%. Amcor’s dividend payout ratio (DPR) is 181.82%.

Analyst Ratings Changes

Several research analysts have recently weighed in on AMCR shares. Jefferies Financial Group set a $44.92 price target on shares of Amcor and gave the company a “hold” rating in a report on Tuesday. BMO Capital Markets assumed coverage on shares of Amcor in a report on Thursday, July 16th. They set a “market perform” rating and a $47.00 price objective on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Citigroup lowered their target price on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.08.

Amcor Company 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.