Amcor PLC $AMCR Shares Sold by XY Capital Ltd

XY Capital Ltd cut its holdings in shares of Amcor PLC (NYSE:AMCR) by 62.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,328 shares of the company’s stock after selling 70,696 shares during the period. Amcor accounts for approximately 1.8% of XY Capital Ltd’s investment portfolio, making the stock its 15th biggest holding. XY Capital Ltd’s holdings in Amcor were worth $1,878,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Amcor by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock valued at $2,596,000 after buying an additional 20,757 shares in the last quarter. Focus Partners Wealth boosted its holdings in Amcor by 11.3% in the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after acquiring an additional 4,396 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Amcor in the second quarter worth about $138,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Amcor during the second quarter worth about $6,426,000. Finally, CW Advisors LLC acquired a new position in shares of Amcor during the second quarter valued at about $228,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 1.6%

Amcor stock opened at $45.17 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.25 and a debt-to-equity ratio of 1.17. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The company has a market capitalization of $20.88 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 2.47 and a beta of 0.60. The stock has a 50-day moving average price of $45.39 and a 200 day moving average price of $42.62.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Thursday, August 13th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.04. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The company had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.05 billion. During the same quarter in the prior year, the company earned $0.20 EPS. Amcor’s quarterly revenue was up 25.9% on a year-over-year basis. Sell-side analysts anticipate that Amcor PLC will post 1.84 EPS for the current year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, September 4th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, September 4th. Amcor’s dividend payout ratio (DPR) is 110.17%.

Analysts Set New Price Targets

A number of research firms recently commented on AMCR. Truist Financial set a $51.00 target price on shares of Amcor in a research note on Tuesday, August 18th. BMO Capital Markets began coverage on shares of Amcor in a research note on Thursday, July 16th. They set a “market perform” rating and a $47.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Amcor from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. UBS Group initiated coverage on shares of Amcor in a research note on Tuesday, August 11th. They set a “buy” rating and a $56.00 price objective for the company. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $47.00 price objective (up from $44.00) on shares of Amcor in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Amcor has a consensus rating of “Moderate Buy” and an average target price of $49.49.

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.