Amcor PLC $AMCR Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its position in Amcor PLC (NYSE:AMCR) by 79.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,291,963 shares of the company’s stock after selling 21,067,983 shares during the period. Dimensional Fund Advisors LP’s holdings in Amcor were worth $210,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc purchased a new stake in shares of Amcor during the first quarter worth $25,000. Palladiem LLC acquired a new stake in shares of Amcor in the first quarter valued at approximately $34,000. Root Financial Partners LLC acquired a new stake in shares of Amcor in the first quarter valued at approximately $41,000. American Capital Advisory LLC purchased a new position in Amcor during the first quarter worth approximately $44,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Amcor during the first quarter worth $49,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Jefferies Financial Group set a $44.92 price objective on Amcor and gave the company a “hold” rating in a report on Tuesday. Truist Financial reiterated a “buy” rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price for the company. Finally, Citigroup decreased their price target on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.08.

Amcor Stock Up 4.6%

AMCR stock opened at $44.60 on Friday. The company’s 50 day moving average price is $41.11 and its 200 day moving average price is $42.23. The firm has a market capitalization of $20.62 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 1.34 and a beta of 0.62. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) 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 firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. On average, equities research analysts anticipate that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were paid a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 5.8%. Amcor’s payout ratio is currently 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.