Burney Co. Sells 153,925 Shares of Amcor PLC $AMCR

Burney Co. decreased its position in Amcor PLC (NYSE:AMCR) by 84.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,936 shares of the company’s stock after selling 153,925 shares during the period. Burney Co.’s holdings in Amcor were worth $1,150,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Amcor by 8.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock worth $2,596,000 after acquiring an additional 20,757 shares during the last quarter. Focus Partners Wealth boosted its position in Amcor by 11.3% during the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after purchasing an additional 4,396 shares during the period. Sivia Capital Partners LLC bought a new position in Amcor during the second quarter worth about $138,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Amcor in the second quarter worth about $6,426,000. Finally, CW Advisors LLC bought a new stake in shares of Amcor in the second quarter valued at approximately $228,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Price Performance

AMCR stock opened at $41.91 on Thursday. The firm has a 50 day moving average of $40.01 and a 200-day moving average of $42.09. The firm has a market capitalization of $19.38 billion, a P/E ratio of 29.31, a price-to-earnings-growth ratio of 1.25 and a beta of 0.62. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting 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 for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. Amcor’s revenue was up 77.4% on a year-over-year basis. As a group, sell-side analysts predict that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AMCR shares. JPMorgan Chase & Co. dropped their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Truist Financial reissued a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Citigroup dropped their target price on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company set a $41.00 price target on Amcor and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

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.