Tred Avon Family Wealth LLC Has $912,000 Stock Position in Amcor PLC $AMCR

Tred Avon Family Wealth LLC lowered its stake in shares of Amcor PLC (NYSE:AMCR) by 70.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,941 shares of the company’s stock after selling 53,834 shares during the period. Tred Avon Family Wealth LLC’s holdings in Amcor were worth $912,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Dakota Wealth Management increased its stake in shares of Amcor by 74.6% during the 4th quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock worth $2,881,000 after purchasing an additional 147,639 shares during the last quarter. PFG Investments LLC acquired a new stake in Amcor in the 4th quarter valued at about $262,000. Vanguard Group Inc. lifted its stake in Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after purchasing an additional 1,845,627 shares during the last quarter. Code Waechter LLC lifted its stake in Amcor by 105.1% in the 4th quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock valued at $451,000 after purchasing an additional 27,725 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Amcor by 64.0% during the fourth quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock worth $2,034,000 after purchasing an additional 94,753 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Up 0.2%

Amcor stock opened at $43.11 on Monday. The company’s 50-day moving average price is $39.45 and its two-hundred day moving average price is $41.95. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The stock has a market cap of $19.93 billion, a P/E ratio of 30.15, a P/E/G ratio of 1.30 and a beta of 0.64. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94.

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

Amcor Announces Dividend

The company 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. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.0%. Amcor’s payout ratio is 181.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AMCR shares. Wells Fargo & Company set a $41.00 price target on Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective for the company. Truist Financial reiterated a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Citigroup dropped their price target on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

Amcor 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.