Fifth Third Bancorp Reduces Holdings in Amcor PLC $AMCR

Fifth Third Bancorp trimmed its stake in shares of Amcor PLC (NYSE:AMCR) by 79.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,009 shares of the company’s stock after selling 71,371 shares during the quarter. Fifth Third Bancorp’s holdings in Amcor were worth $716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. AdvisorNet Financial Inc bought a new position in shares of Amcor in the first quarter worth approximately $25,000. DV Equities LLC bought a new stake in Amcor during the 4th quarter valued at $27,000. Brown Lisle Cummings Inc. boosted its position in Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after buying an additional 2,000 shares during the period. Larson Financial Group LLC boosted its position in 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 grew its holdings in Amcor by 10.1% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after acquiring an additional 373 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Trading Up 1.6%

NYSE:AMCR opened at $45.27 on Tuesday. The company has a 50-day moving average price of $41.27 and a 200-day moving average price of $42.25. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The stock has a market cap of $20.93 billion, a price-to-earnings ratio of 31.66, a P/E/G ratio of 1.40 and a beta of 0.62.

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

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were issued a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 5.7%. Amcor’s dividend payout ratio (DPR) is 181.82%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMCR. JPMorgan Chase & Co. decreased their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Bank of America boosted their price target on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Jefferies Financial Group set a $44.92 price target on Amcor and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target for the company. 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.08.

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.