KBC Group NV Decreases Stake in Amcor PLC $AMCR

KBC Group NV cut its holdings in shares of Amcor PLC (NYSE:AMCR) by 86.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,121 shares of the company’s stock after selling 643,742 shares during the quarter. KBC Group NV’s holdings in Amcor were worth $3,861,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. AdvisorNet Financial Inc purchased a new position in Amcor in the 1st quarter worth approximately $25,000. DV Equities LLC purchased a new stake in shares of Amcor in the fourth quarter valued at approximately $27,000. Brown Lisle Cummings Inc. grew its position in shares of Amcor by 137.9% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Amcor by 46.1% in the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after purchasing an additional 1,257 shares during the last quarter. Finally, N.E.W. Advisory Services LLC increased its holdings in shares of Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after purchasing an additional 373 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AMCR. Bank of America boosted their price objective on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. cut their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Jefferies Financial Group set a $44.92 price target on Amcor and gave the stock a “hold” rating in a report on Tuesday. 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 price objective 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and an average price target of $48.08.

Amcor Stock Down 1.2%

AMCR stock opened at $42.68 on Friday. Amcor PLC has a one year low of $36.25 and a one year high of $50.94. The firm has a market cap of $19.73 billion, a PE ratio of 29.84, a PEG ratio of 1.36 and a beta of 0.62. The firm’s 50 day moving average price is $40.96 and its 200-day moving average price is $42.21. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm’s revenue for the quarter was up 77.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 earnings per share. On average, equities research analysts anticipate that Amcor PLC will post 3.97 EPS 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 dividend of $0.65 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.1%. Amcor’s dividend payout ratio is currently 181.82%.

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.