Amcor PLC $AMCR Stock Position Decreased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its stake in Amcor PLC (NYSE:AMCR) by 80.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,114 shares of the company’s stock after selling 69,558 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Amcor were worth $680,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. AdvisorNet Financial Inc acquired a new position in shares of Amcor in the 1st quarter valued at $25,000. DV Equities LLC acquired a new stake in Amcor during the 4th quarter worth about $27,000. Brown Lisle Cummings Inc. raised its holdings in Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares during the period. Larson Financial Group LLC lifted its stake in Amcor by 46.1% during the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after buying an additional 1,257 shares in the last quarter. Finally, N.E.W. Advisory Services LLC lifted its stake in Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after buying an additional 373 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Price Performance

Shares of AMCR opened at $44.98 on Friday. The business’s 50-day moving average is $39.65 and its 200-day moving average is $42.02. 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 company has a market capitalization of $20.80 billion, a price-to-earnings ratio of 31.46, a P/E/G ratio of 1.23 and a beta of 0.62. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94.

Amcor (NYSE:AMCR) last posted its quarterly earnings results 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 analysts’ expectations of $5.71 billion. During the same period last year, the company posted $0.90 earnings per share. The firm’s quarterly revenue was up 77.4% compared to the same quarter last year. Equities research analysts expect that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.8%. Amcor’s dividend payout ratio (DPR) is 181.82%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMCR shares. Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective for the company. Citigroup lowered their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Truist Financial reissued a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

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.