Amcor PLC $AMCR Shares Sold by PEAK6 LLC

PEAK6 LLC cut its holdings in shares of Amcor PLC (NYSE:AMCR) by 85.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,442 shares of the company’s stock after selling 221,486 shares during the quarter. PEAK6 LLC’s holdings in Amcor were worth $312,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AMCR. DV Equities LLC acquired a new stake in shares of Amcor in the fourth quarter worth $27,000. Brown Lisle Cummings Inc. boosted its holdings in Amcor by 137.9% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Amcor by 46.1% in the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after purchasing an additional 1,257 shares during the last quarter. N.E.W. Advisory Services LLC grew its position in Amcor by 10.1% during the 4th 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 period. Finally, CYBER HORNET ETFs LLC acquired a new stake in Amcor during the 2nd quarter worth about $36,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMCR has been the subject of a number of recent research reports. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Citigroup dropped their target price on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. JPMorgan Chase & Co. reduced their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Amcor has an average rating of “Moderate Buy” and an average price target of $49.33.

Amcor Stock Down 0.0%

AMCR stock opened at $41.07 on Friday. Amcor PLC has a one year low of $36.25 and a one year high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The firm’s fifty day moving average is $39.38 and its 200 day moving average is $41.95. The firm has a market cap of $18.99 billion, a PE ratio of 28.72, a P/E/G ratio of 1.24 and a beta of 0.64.

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

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 6.3%. The ex-dividend date was Thursday, May 28th. Amcor’s payout ratio is currently 181.82%.

About Amcor

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.