Amcor PLC $AMCR Shares Sold by Royal Bank of Canada

Royal Bank of Canada lowered its position in shares of Amcor PLC (NYSE:AMCR) by 74.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,728,266 shares of the company’s stock after selling 5,024,147 shares during the quarter. Royal Bank of Canada owned about 0.37% of Amcor worth $68,699,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. AdvisorNet Financial Inc purchased a new stake in Amcor during the first quarter worth approximately $25,000. DV Equities LLC acquired a new position in shares of Amcor during the 4th quarter valued at $27,000. Brown Lisle Cummings Inc. boosted its position 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 purchasing an additional 2,000 shares during the period. Larson Financial Group LLC increased its holdings in Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after purchasing an additional 1,257 shares in the last quarter. Finally, N.E.W. Advisory Services LLC raised its position in Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after purchasing an additional 373 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AMCR shares. JPMorgan Chase & Co. lowered their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Truist Financial reissued a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Jefferies Financial Group set a $44.92 price target on shares of Amcor and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Finally, Citigroup decreased their price objective 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 research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.08.

Amcor Stock Performance

Amcor stock opened at $44.96 on Friday. Amcor PLC has a 52 week low of $36.25 and a 52 week 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 stock has a market cap of $20.79 billion, a P/E ratio of 31.44, a price-to-earnings-growth ratio of 1.41 and a beta of 0.62. The stock has a 50 day moving average of $41.89 and a 200-day moving average of $42.33.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the prior year, the company posted $0.90 earnings per share. The firm’s quarterly revenue was up 77.4% on a year-over-year basis. On average, analysts expect that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

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