Seven Six Capital Management LLC Increases Position in Amcor PLC $AMCR

Seven Six Capital Management LLC lifted its holdings in shares of Amcor PLC (NYSE:AMCR) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 921,037 shares of the company’s stock after purchasing an additional 16,500 shares during the period. Amcor accounts for about 7.7% of Seven Six Capital Management LLC’s portfolio, making the stock its 3rd biggest position. Seven Six Capital Management LLC owned 0.20% of Amcor worth $7,681,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. N.E.W. Advisory Services LLC boosted its holdings in Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after acquiring an additional 373 shares in the last quarter. CYBER HORNET ETFs LLC boosted its holdings in Amcor by 11.1% in the fourth quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock worth $37,000 after acquiring an additional 447 shares in the last quarter. FineMark National Bank & Trust boosted its holdings in Amcor by 0.6% in the fourth quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock worth $671,000 after acquiring an additional 503 shares in the last quarter. United Asset Strategies Inc. boosted its holdings in Amcor by 1.6% in the fourth quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock worth $321,000 after acquiring an additional 597 shares in the last quarter. Finally, L2 Asset Management LLC boosted its holdings in Amcor by 6.4% in the fourth quarter. L2 Asset Management LLC now owns 11,597 shares of the company’s stock worth $97,000 after acquiring an additional 694 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMCR. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Wells Fargo & Company set a $41.00 price target on Amcor and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. Truist Financial reiterated a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

Amcor Stock Performance

Shares of Amcor stock opened at $41.45 on Wednesday. The company has a market cap of $19.16 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 1.24 and a beta of 0.64. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The business has a 50 day moving average price of $39.35 and a 200-day moving average price of $41.99. 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 issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting the consensus estimate of $0.96. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate 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 prior year, the business posted $0.90 earnings per share. Equities analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 6.3%. Amcor’s dividend payout ratio is 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.