Amcor PLC $AMCR Shares Sold by Sei Investments Co.

Sei Investments Co. lowered its holdings in shares of Amcor PLC (NYSE:AMCR) by 81.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 610,384 shares of the company’s stock after selling 2,681,110 shares during the quarter. Sei Investments Co.’s holdings in Amcor were worth $24,263,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AMCR. State Street Corp lifted its position in shares of Amcor by 1.7% during the 4th quarter. State Street Corp now owns 141,509,581 shares of the company’s stock valued at $1,180,190,000 after buying an additional 2,432,340 shares in the last quarter. M&G PLC increased its holdings in Amcor by 6.1% in the 4th quarter. M&G PLC now owns 114,989,595 shares of the company’s stock worth $919,917,000 after acquiring an additional 6,655,611 shares in the last quarter. Vanguard Group Inc. increased its holdings in Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after acquiring an additional 1,845,627 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Amcor by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock worth $701,356,000 after acquiring an additional 2,036,667 shares during the period. Finally, Geode Capital Management LLC raised its position in Amcor by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock worth $533,487,000 after acquiring an additional 262,418 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AMCR shares. Bank of America lifted their target price on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft began 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. Citigroup decreased their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. JPMorgan Chase & Co. lowered their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Finally, Truist Financial reiterated a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.08.

Amcor Trading Up 3.4%

Shares of AMCR stock opened at $46.77 on Wednesday. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The stock’s fifty day moving average is $41.47 and its two-hundred day moving average is $42.28. The firm has a market capitalization of $21.62 billion, a P/E ratio of 32.71, a PEG ratio of 1.42 and a beta of 0.62.

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

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders 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 yield of 5.6%. Amcor’s dividend 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.