Amcor PLC $AMCR Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its position in shares of Amcor PLC (NYSE:AMCR) by 88.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 114,693 shares of the company’s stock after selling 907,214 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Amcor were worth $4,559,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in shares of Amcor in the 1st quarter valued at $3,653,000. Elevation Point Wealth Partners LLC acquired a new stake in Amcor during the 1st quarter worth $308,000. Sound Income Strategies LLC purchased a new position in Amcor during the 1st quarter worth $19,343,000. Strs Ohio purchased a new position in Amcor during the 1st quarter worth $438,000. Finally, Boston Trust Walden Corp acquired a new position in Amcor in the first quarter valued at $1,062,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AMCR shares. 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 report on Friday, May 8th. 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. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. reduced their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, Wells Fargo & Company set a $41.00 price objective on Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

Amcor Trading Down 0.0%

Shares of Amcor stock opened at $44.98 on Monday. The firm has a market cap of $20.80 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 1.27 and a beta of 0.62. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94. The company’s 50-day simple moving average is $39.75 and its 200-day simple moving average is $42.05. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS 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 firm 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 firm’s revenue was up 77.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

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