Amcor PLC $AMCR Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd lowered its position in Amcor PLC (NYSE:AMCR) by 76.6% during the first quarter, HoldingsChannel reports. The firm owned 109,197 shares of the company’s stock after selling 357,191 shares during the period. IFM Investors Pty Ltd’s holdings in Amcor were worth $4,341,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC acquired a new stake in shares of Amcor in the first quarter valued at about $241,000. Aaron Wealth Advisors LLC acquired a new position in Amcor during the first quarter worth about $214,000. Louisiana State Employees Retirement System acquired a new position in Amcor during the first quarter worth about $934,000. Fiduciary Alliance LLC purchased a new stake in Amcor during the 1st quarter valued at about $421,000. Finally, CENTRAL TRUST Co purchased a new stake in Amcor during the 1st quarter valued at about $49,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

AMCR has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Truist Financial reaffirmed 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. Citigroup reduced their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

Amcor Stock Performance

NYSE AMCR opened at $44.98 on Friday. The stock has a market cap of $20.80 billion, a PE ratio of 31.46, a P/E/G ratio of 1.27 and a beta of 0.62. 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 twelve month low of $36.25 and a twelve month high of $50.94. The stock has a fifty day simple moving average of $39.75 and a 200-day simple moving average of $42.04.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter last year, the company posted $0.90 EPS. The firm’s quarterly revenue was up 77.4% on a year-over-year basis. Equities analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors 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 dividend on an annualized basis and a dividend yield of 5.8%. Amcor’s payout ratio is 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.