SageGuard Financial Group LLC Sells 33,293 Shares of Amcor PLC $AMCR

SageGuard Financial Group LLC lessened its position in shares of Amcor PLC (NYSE:AMCR) by 75.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,610 shares of the company’s stock after selling 33,293 shares during the quarter. SageGuard Financial Group LLC’s holdings in Amcor were worth $422,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMCR. AdvisorNet Financial Inc purchased a new stake in shares of Amcor during the 1st quarter valued at about $25,000. CENTRAL TRUST Co purchased a new position in shares of Amcor in the first quarter worth approximately $49,000. DV Equities LLC bought a new stake in Amcor during the fourth quarter valued at approximately $27,000. Brown Lisle Cummings Inc. grew its position in Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after buying an additional 2,000 shares during the period. Finally, CYBER HORNET ETFs LLC purchased a new stake in Amcor during the second quarter valued at approximately $36,000. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

NYSE AMCR opened at $43.11 on Monday. The firm has a market cap of $19.93 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The business has a 50-day moving average price of $39.45 and a 200-day moving average price of $41.95. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94.

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 the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter last year, the business posted $0.90 earnings per share. The firm’s revenue was up 77.4% on a year-over-year basis. As a group, equities research analysts predict that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

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 dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.

Analyst Ratings Changes

Several research firms have weighed in on AMCR. 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 report on Friday, May 8th. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Truist Financial reaffirmed a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lowered their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $49.33.

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.