V Square Quantitative Management LLC Sells 24,996 Shares of Amcor PLC $AMCR

V Square Quantitative Management LLC trimmed its stake in Amcor PLC (NYSE:AMCR) by 79.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,304 shares of the company’s stock after selling 24,996 shares during the period. V Square Quantitative Management LLC’s holdings in Amcor were worth $251,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. N.E.W. Advisory Services LLC boosted its stake in shares of Amcor by 10.1% in the 4th 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 in the last quarter. CYBER HORNET ETFs LLC grew its stake in Amcor by 11.1% during the fourth quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock worth $37,000 after buying an additional 447 shares during the last quarter. FineMark National Bank & Trust increased its holdings in shares of Amcor by 0.6% during the fourth quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock worth $671,000 after buying an additional 503 shares in the last quarter. United Asset Strategies Inc. raised its stake in shares of Amcor by 1.6% in the fourth quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock valued at $321,000 after acquiring an additional 597 shares during the last quarter. Finally, AdvisorNet Financial Inc acquired a new position in shares of Amcor in the 1st quarter worth approximately $25,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on AMCR. JPMorgan Chase & Co. dropped their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Citigroup decreased their target price on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Amcor Price Performance

Amcor stock opened at $44.46 on Wednesday. The business’s 50-day simple moving average is $39.96 and its 200 day simple moving average is $42.09. 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 stock has a market cap of $20.56 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 1.26 and a beta of 0.62. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. As a group, research analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. Amcor’s 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.