Nautilus Advisors LLC Sells 24,990 Shares of Amcor PLC $AMCR

Nautilus Advisors LLC lessened its position in shares of Amcor PLC (NYSE:AMCR) by 80.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,220 shares of the company’s stock after selling 24,990 shares during the quarter. Nautilus Advisors LLC’s holdings in Amcor were worth $247,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CENTRAL TRUST Co bought a new position in Amcor in the first quarter valued at approximately $49,000. AdvisorNet Financial Inc acquired a new stake in Amcor in the 1st quarter valued at $25,000. Anchyra Partners LLC acquired a new position in Amcor during the first quarter valued at approximately $247,000. Rockefeller Capital Management L.P. boosted its position in Amcor by 55.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,307,985 shares of the company’s stock valued at $10,909,000 after purchasing an additional 467,065 shares during the last quarter. Finally, Alpine Global Management LLC grew 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 purchasing an additional 23,534 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMCR. Citigroup dropped their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Truist Financial reissued a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wells Fargo & Company set a $41.00 price target on shares of Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Amcor has an average rating of “Moderate Buy” and a consensus price target of $49.33.

Amcor Stock Performance

AMCR opened at $40.53 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The business has a 50 day moving average of $39.35 and a 200-day moving average of $41.92. The stock has a market cap of $18.74 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 1.23 and a beta of 0.64.

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

Amcor Announces Dividend

The business 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. This represents a $2.60 annualized dividend and a dividend yield of 6.4%. The ex-dividend date was Thursday, May 28th. Amcor’s payout ratio is currently 181.82%.

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.