Amcor PLC $AMCR Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in shares of Amcor PLC (NYSE:AMCR) by 80.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 198,149 shares of the company’s stock after selling 807,125 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Amcor were worth $7,876,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of AMCR. AdvisorNet Financial Inc acquired a new stake in Amcor during the 1st quarter valued at approximately $25,000. CENTRAL TRUST Co purchased a new stake in Amcor during the 1st quarter worth approximately $49,000. DV Equities LLC acquired a new position in shares of Amcor in the 4th quarter valued at approximately $27,000. Brown Lisle Cummings Inc. raised its position in shares of Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Amcor during the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE AMCR opened at $44.98 on Friday. Amcor PLC has a twelve month low of $36.25 and a twelve 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 company has a market capitalization of $20.80 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 1.27 and a beta of 0.62. The business has a 50 day simple moving average of $39.75 and a 200-day simple moving average of $42.04.

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

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

Wall Street Analysts Forecast Growth

AMCR has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target for the company. Wells Fargo & Company set a $41.00 price objective on shares of Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. decreased their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Finally, Citigroup dropped their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

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.