PEAK6 LLC Sells 221,486 Shares of Amcor PLC $AMCR

PEAK6 LLC trimmed its position in shares of Amcor PLC (NYSE:AMCR) by 85.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,442 shares of the company’s stock after selling 221,486 shares during the quarter. PEAK6 LLC’s holdings in Amcor were worth $312,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AMCR. Alpine Global Management LLC boosted its stake in Amcor by 13.1% in the fourth quarter. Alpine Global Management LLC now owns 203,131 shares of the company’s stock valued at $1,694,000 after acquiring an additional 23,534 shares in the last quarter. MidFirst Bank purchased a new position in Amcor in the fourth quarter worth $148,000. Alternative Investment Advisors LLC. increased its position in shares of Amcor by 6.3% during the fourth quarter. Alternative Investment Advisors LLC. now owns 11,268 shares of the company’s stock worth $94,000 after purchasing an additional 671 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Amcor by 6.8% during the fourth quarter. Pacer Advisors Inc. now owns 196,252 shares of the company’s stock worth $1,637,000 after purchasing an additional 12,441 shares in the last quarter. Finally, Rare Wolf Capital LLC purchased a new stake in shares of Amcor during the 4th quarter valued at $135,000. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AMCR shares. Truist Financial reissued 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. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Citigroup decreased their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. JPMorgan Chase & Co. lowered their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Finally, Wells Fargo & Company set a $41.00 price target on Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.33.

Amcor Trading Down 0.0%

NYSE AMCR opened at $41.07 on Friday. The company has a fifty day simple moving average of $39.38 and a two-hundred day simple moving average of $41.95. The stock has a market cap of $18.99 billion, a P/E ratio of 28.72, a P/E/G ratio of 1.24 and a beta of 0.64. 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.

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

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 6.3%. The ex-dividend date was Thursday, May 28th. Amcor’s payout ratio is presently 181.82%.

Amcor Company 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.