Isthmus Partners LLC Sells 70,000 Shares of Amcor PLC $AMCR

Isthmus Partners LLC trimmed its stake in shares of Amcor PLC (NYSE:AMCR) by 3.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,933,404 shares of the company’s stock after selling 70,000 shares during the quarter. Amcor accounts for approximately 1.8% of Isthmus Partners LLC’s portfolio, making the stock its 12th largest position. Isthmus Partners LLC’s holdings in Amcor were worth $16,125,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Conning Inc. bought a new position in Amcor during the 4th quarter worth approximately $96,000. Heritage Wealth Management Inc. CA bought a new position in Amcor during the 4th quarter worth approximately $240,000. Oregon Public Employees Retirement Fund grew its position in shares of Amcor by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 264,442 shares of the company’s stock worth $2,205,000 after buying an additional 900 shares during the last quarter. Independent Advisor Alliance grew its position in shares of Amcor by 126.8% in the 4th quarter. Independent Advisor Alliance now owns 125,966 shares of the company’s stock worth $1,051,000 after buying an additional 70,415 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its position in shares of Amcor by 5.0% in the 4th quarter. HighPoint Advisor Group LLC now owns 36,665 shares of the company’s stock worth $306,000 after buying an additional 1,761 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Down 4.9%

AMCR stock opened at $36.71 on Friday. Amcor PLC has a 1-year low of $36.67 and a 1-year high of $50.94. The business has a fifty day moving average price of $40.08 and a 200-day moving average price of $42.41. 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 stock has a market capitalization of $16.97 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.17 and a beta of 0.63.

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

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be paid a $0.65 dividend. The ex-dividend date is Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 7.1%. Amcor’s payout ratio is currently 181.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMCR. Wells Fargo & Company lowered Amcor from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $48.00 to $43.00 in a research report on Friday, March 20th. Truist Financial reiterated a “buy” rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Robert W. Baird set a $54.00 price objective on Amcor in a research report on Wednesday, February 4th. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Amcor has an average rating of “Moderate Buy” and a consensus target price of $49.56.

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.