D.A. Davidson & CO. Has $1.89 Million Position in Amcor PLC $AMCR

D.A. Davidson & CO. trimmed its holdings in shares of Amcor PLC (NYSE:AMCR) by 67.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,607 shares of the company’s stock after selling 99,158 shares during the quarter. D.A. Davidson & CO.’s holdings in Amcor were worth $1,892,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Capital International Investors bought a new position in shares of Amcor during the 4th quarter worth approximately $354,227,000. Norges Bank purchased a new position in Amcor during the 4th quarter worth $308,724,000. AQR Capital Management LLC grew its position in Amcor by 398.6% in the 2nd quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after purchasing an additional 12,803,785 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Amcor in the fourth quarter valued at approximately $103,713,000. Finally, Invesco Ltd. boosted its holdings in shares of Amcor by 29.9% in the 3rd quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after buying an additional 10,846,351 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

AMCR has been the subject of several research reports. BMO Capital Markets began coverage on Amcor in a report on Thursday, July 16th. They set a “market perform” rating and a $47.00 price objective for the company. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup dropped their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Wells Fargo & Company set a $43.00 price objective on shares of Amcor and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. cut their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.08.

Amcor Price Performance

Shares of NYSE AMCR opened at $43.48 on Wednesday. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The company’s 50-day moving average is $40.79 and its 200 day moving average is $42.20. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The stock has a market capitalization of $20.10 billion, a P/E ratio of 30.41, a P/E/G ratio of 1.36 and a beta of 0.62.

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

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 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.