Sanctuary Advisors LLC Trims Holdings in Amcor PLC $AMCR

Sanctuary Advisors LLC reduced its stake in shares of Amcor PLC (NYSE:AMCR) by 64.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,324 shares of the company’s stock after selling 58,267 shares during the period. Sanctuary Advisors LLC’s holdings in Amcor were worth $1,285,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AMCR. Capital International Investors bought a new position in Amcor during the 4th quarter worth approximately $354,227,000. Norges Bank bought a new stake in shares of Amcor in the 4th quarter valued at approximately $308,724,000. AQR Capital Management LLC increased its stake in Amcor by 398.6% during the second quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock valued at $147,184,000 after purchasing an additional 12,803,785 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Amcor during the fourth quarter valued at $103,713,000. Finally, Invesco Ltd. raised its stake in Amcor by 29.9% during the third quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after acquiring an additional 10,846,351 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AMCR shares. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price on the stock. Wells Fargo & Company set a $43.00 target price on Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. Truist Financial reissued a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. BMO Capital Markets initiated coverage on Amcor in a research note on Thursday, July 16th. They set a “market perform” rating and a $47.00 price objective for the company. Finally, Citigroup decreased their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.08.

Amcor Stock Up 4.6%

AMCR opened at $44.60 on Friday. 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 company has a market capitalization of $20.62 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 1.34 and a beta of 0.62. The business has a 50-day moving average of $41.11 and a 200-day moving average of $42.23. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94.

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

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 5.8%. The ex-dividend date was Thursday, May 28th. Amcor’s payout ratio 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.