Shayne & Jacobs LLC Reduces Position in Amcor PLC $AMCR

Shayne & Jacobs LLC trimmed its position in Amcor PLC (NYSE:AMCR) by 80.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,813 shares of the company’s stock after selling 103,288 shares during the period. Shayne & Jacobs LLC’s holdings in Amcor were worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Amcor by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock valued at $2,596,000 after purchasing an additional 20,757 shares during the period. Focus Partners Wealth boosted its position in Amcor by 11.3% in the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock valued at $418,000 after buying an additional 4,396 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Amcor in the second quarter valued at approximately $138,000. Arrowstreet Capital Limited Partnership purchased a new stake in Amcor in the second quarter valued at approximately $6,426,000. Finally, CW Advisors LLC acquired a new position in Amcor in the 2nd quarter worth approximately $228,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AMCR shares. 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 shares of Amcor and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Finally, Truist Financial restated 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. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

Amcor Stock Performance

Shares of AMCR traded up $0.20 during mid-day trading on Tuesday, reaching $44.82. The company had a trading volume of 435,124 shares, compared to its average volume of 5,176,395. The stock has a market capitalization of $20.72 billion, a P/E ratio of 31.33, a PEG ratio of 1.27 and a beta of 0.62. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94. The stock has a 50 day moving average of $39.75 and a two-hundred day moving average of $42.05. 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 (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period last year, the business earned $0.90 earnings per share. Amcor’s quarterly revenue was up 77.4% on a year-over-year basis. On average, analysts expect that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s payout ratio is 181.82%.

Amcor 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.