Sei Investments Co. Reduces Position in Amcor PLC $AMCR

Sei Investments Co. lowered its stake in Amcor PLC (NYSE:AMCR) by 81.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 610,384 shares of the company’s stock after selling 2,681,110 shares during the period. Sei Investments Co. owned 0.13% of Amcor worth $24,263,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Amcor by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock worth $2,596,000 after purchasing an additional 20,757 shares during the last quarter. Focus Partners Wealth boosted its position in Amcor by 11.3% in the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock valued at $418,000 after buying an additional 4,396 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Amcor in the second quarter valued at approximately $138,000. Arrowstreet Capital Limited Partnership acquired a new position in Amcor in the 2nd quarter worth approximately $6,426,000. Finally, CW Advisors LLC acquired a new position in Amcor in the 2nd quarter worth approximately $228,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on AMCR. Wells Fargo & Company set a $43.00 price objective on shares of Amcor and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. reduced their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Truist Financial restated a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. BMO Capital Markets assumed coverage on shares of Amcor in a report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price target on the stock. Finally, Citigroup cut their price target on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. One 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.08.

Amcor Trading Up 3.4%

Shares of NYSE:AMCR opened at $46.77 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The business has a 50 day moving average of $41.47 and a two-hundred day moving average of $42.28. The company has a market capitalization of $21.62 billion, a PE ratio of 32.71, a PEG ratio of 1.42 and a beta of 0.62.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business’s revenue was up 77.4% on a year-over-year basis. During the same quarter last year, the company earned $0.90 EPS. As a group, analysts forecast 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 given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 5.6%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) 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.