New York Life Investment Management LLC Sells 5,208 Shares of Amcor plc (NYSE:AMCR)

New York Life Investment Management LLC lowered its stake in Amcor plc (NYSE:AMCR) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 207,041 shares of the company’s stock after selling 5,208 shares during the quarter. New York Life Investment Management LLC’s holdings in Amcor were worth $1,996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Alliance boosted its stake in Amcor by 1.9% during the fourth quarter. Wealth Alliance now owns 55,592 shares of the company’s stock valued at $536,000 after buying an additional 1,061 shares during the last quarter. Global Retirement Partners LLC increased its position in Amcor by 17.0% in the fourth quarter. Global Retirement Partners LLC now owns 8,397 shares of the company’s stock worth $80,000 after purchasing an additional 1,222 shares during the last quarter. Park Avenue Securities LLC raised its stake in Amcor by 3.9% during the third quarter. Park Avenue Securities LLC now owns 34,023 shares of the company’s stock valued at $312,000 after purchasing an additional 1,279 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in Amcor by 9.8% during the third quarter. Coldstream Capital Management Inc. now owns 14,643 shares of the company’s stock valued at $134,000 after purchasing an additional 1,303 shares during the last quarter. Finally, MV Capital Management Inc. increased its holdings in shares of Amcor by 33.7% in the 4th quarter. MV Capital Management Inc. now owns 5,193 shares of the company’s stock worth $50,000 after buying an additional 1,310 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their price target on shares of Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st.

Amcor Stock Up 0.8 %

Shares of AMCR opened at $10.09 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.29 and a debt-to-equity ratio of 1.76. Amcor plc has a 52-week low of $8.45 and a 52-week high of $10.53. The company has a market cap of $14.58 billion, a PE ratio of 22.42, a P/E/G ratio of 5.48 and a beta of 0.79. The business has a fifty day moving average of $9.24 and a 200 day moving average of $9.31.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.49 billion. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 EPS. On average, sell-side analysts expect that Amcor plc will post 0.69 EPS for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.96%. The ex-dividend date is Tuesday, May 21st. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.