Amcor PLC $AMCR Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its stake in shares of Amcor PLC (NYSE:AMCR) by 75.2% in the first quarter, HoldingsChannel reports. The firm owned 2,683,095 shares of the company’s stock after selling 8,130,830 shares during the quarter. First Trust Advisors LP’s holdings in Amcor were worth $106,653,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AMCR. AdvisorNet Financial Inc acquired a new stake in shares of Amcor during the 1st quarter worth about $25,000. DV Equities LLC acquired a new stake in Amcor during the fourth quarter worth approximately $27,000. Brown Lisle Cummings Inc. grew its stake in Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after acquiring an additional 2,000 shares during the period. Larson Financial Group LLC grew its stake in Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after acquiring an additional 1,257 shares during the period. Finally, N.E.W. Advisory Services LLC boosted its holdings in shares of Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after purchasing an additional 373 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AMCR. Bank of America upped their target price on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. 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. Truist Financial reissued a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective for the company. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.08.

Amcor Price Performance

Shares of NYSE AMCR opened at $44.60 on Friday. 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 1-year low of $36.25 and a 1-year high of $50.94. The company has a market capitalization of $20.62 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 1.34 and a beta of 0.62. The business has a 50-day moving average of $41.11 and a 200-day moving average of $42.23.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.96. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.Amcor’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. On average, equities analysts anticipate that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Thursday, May 28th. 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.