Cwm LLC Lowers Position in Amcor PLC (NYSE:AMCR)

Cwm LLC cut its stake in shares of Amcor PLC (NYSE:AMCR) by 38.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,176 shares of the company’s stock after selling 22,948 shares during the period. Cwm LLC’s holdings in Amcor were worth $361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AMCR. UMB Bank n.a. raised its holdings in Amcor by 20.0% during the first quarter. UMB Bank n.a. now owns 6,386 shares of the company’s stock valued at $62,000 after acquiring an additional 1,066 shares during the period. AlphaStar Capital Management LLC increased its holdings in shares of Amcor by 2.4% in the first quarter. AlphaStar Capital Management LLC now owns 50,472 shares of the company’s stock worth $490,000 after purchasing an additional 1,185 shares during the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Amcor by 10.1% in the first quarter. Koshinski Asset Management Inc. now owns 13,659 shares of the company’s stock worth $132,000 after purchasing an additional 1,252 shares during the last quarter. Virtue Capital Management LLC increased its holdings in shares of Amcor by 2.8% in the fourth quarter. Virtue Capital Management LLC now owns 45,924 shares of the company’s stock worth $432,000 after purchasing an additional 1,259 shares during the last quarter. Finally, Utah Retirement Systems increased its holdings in shares of Amcor by 1.1% in the fourth quarter. Utah Retirement Systems now owns 120,076 shares of the company’s stock worth $1,130,000 after purchasing an additional 1,300 shares during the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Stock Down 0.2%

Shares of NYSE:AMCR opened at $9.75 on Friday. Amcor PLC has a 1 year low of $8.37 and a 1 year high of $11.48. The business has a 50 day simple moving average of $9.32 and a two-hundred day simple moving average of $9.54. The firm has a market capitalization of $14.08 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.25 and a beta of 0.73. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.70 and a quick ratio of 1.16.

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. Amcor had a return on equity of 26.49% and a net margin of 5.99%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the previous year, the business earned $0.13 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts predict that Amcor PLC will post 0.74 EPS for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd were issued a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.23%. Amcor’s payout ratio is 91.07%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group raised Amcor from a “neutral” rating to a “buy” rating in a report on Thursday, June 26th. Truist Financial set a $11.00 price objective on Amcor and gave the stock a “buy” rating in a research note on Friday, July 11th. Raymond James Financial assumed coverage on Amcor in a research note on Tuesday, April 22nd. They set a “market perform” rating on the stock. Wells Fargo & Company boosted their price objective on Amcor from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Finally, Jefferies Financial Group assumed coverage on Amcor in a research note on Wednesday, July 2nd. They set a “buy” rating and a $12.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.51.

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.