Amcor PLC $AMCR Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lowered its position in Amcor PLC (NYSE:AMCR) by 81.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,324 shares of the company’s stock after selling 109,474 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Amcor were worth $1,007,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMCR. AdvisorNet Financial Inc acquired a new position in Amcor in the 1st quarter valued at about $25,000. DV Equities LLC acquired a new stake in shares of Amcor during the 4th quarter worth approximately $27,000. Brown Lisle Cummings Inc. increased its holdings in shares of Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Amcor by 46.1% during the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after buying an additional 1,257 shares during the period. Finally, N.E.W. Advisory Services LLC raised its position in shares of Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after buying an additional 373 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Up 1.8%

Shares of NYSE:AMCR opened at $42.71 on Friday. The firm has a market capitalization of $19.75 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 1.18 and a beta of 0.62. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. 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 firm’s 50-day moving average is $40.10 and its two-hundred day moving average is $42.10.

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

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were issued a dividend of $0.65 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.1%. Amcor’s dividend payout ratio is 181.82%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Truist Financial reissued 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. JPMorgan Chase & Co. decreased their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Citigroup lowered their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

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.