Wedmont Private Capital Sells 1,987 Shares of Amcor plc (NYSE:AMCR)

Wedmont Private Capital decreased its position in Amcor plc (NYSE:AMCR) by 14.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,964 shares of the company’s stock after selling 1,987 shares during the period. Wedmont Private Capital’s holdings in Amcor were worth $112,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vest Financial LLC increased its stake in shares of Amcor by 9.5% in the 1st quarter. Vest Financial LLC now owns 5,615,629 shares of the company’s stock valued at $54,472,000 after acquiring an additional 488,281 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Amcor by 0.9% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 157,588 shares of the company’s stock worth $1,529,000 after purchasing an additional 1,477 shares during the period. Merit Financial Group LLC increased its stake in Amcor by 20.0% in the first quarter. Merit Financial Group LLC now owns 16,144 shares of the company’s stock valued at $157,000 after purchasing an additional 2,686 shares in the last quarter. NBC Securities Inc. raised its holdings in shares of Amcor by 105,725.0% during the first quarter. NBC Securities Inc. now owns 8,466 shares of the company’s stock valued at $82,000 after purchasing an additional 8,458 shares during the period. Finally, Czech National Bank raised its holdings in shares of Amcor by 5.9% during the first quarter. Czech National Bank now owns 331,973 shares of the company’s stock valued at $3,220,000 after purchasing an additional 18,594 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

AMCR stock opened at $9.23 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The business has a 50-day simple moving average of $9.21 and a two-hundred day simple moving average of $9.62. The company has a market capitalization of $13.34 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73. Amcor plc has a 52-week low of $8.37 and a 52-week high of $11.48.

Amcor (NYSE:AMCR) last announced its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 earnings per share. Research analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd were given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date was Thursday, May 22nd. Amcor’s payout ratio is currently 91.07%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Truist Financial decreased their target price on Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Raymond James assumed coverage on Amcor in a research note on Tuesday, April 22nd. They issued a “market perform” rating for the company. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.31.

Amcor 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.