Kinloch Capital LLC Lowers Holdings in Amcor PLC $AMCR

Kinloch Capital LLC reduced its position in Amcor PLC (NYSE:AMCR) by 28.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 301,893 shares of the company’s stock after selling 118,551 shares during the quarter. Kinloch Capital LLC’s holdings in Amcor were worth $2,518,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. DV Equities LLC acquired a new position in shares of Amcor during the fourth quarter worth about $27,000. Brown Lisle Cummings Inc. lifted its position in Amcor by 137.9% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in Amcor in the 2nd quarter valued at approximately $36,000. Larson Financial Group LLC boosted its holdings in Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after purchasing an additional 1,257 shares in the last quarter. Finally, N.E.W. Advisory Services LLC increased its position in Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after purchasing an additional 373 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 0.7%

Shares of Amcor stock opened at $41.07 on Friday. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The stock has a market cap of $18.99 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 1.23 and a beta of 0.64. The company has a 50-day moving average of $39.41 and a two-hundred day moving average of $41.96.

Amcor (NYSE:AMCR) last issued its quarterly earnings data 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 period in the previous year, the firm posted $0.90 earnings per share. Amcor’s revenue was up 77.4% on a year-over-year basis. On average, 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. Investors of record on Thursday, May 28th were given a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 6.3%. Amcor’s payout ratio is currently 181.82%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup cut their target price on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target on the stock. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. cut their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Finally, Weiss Ratings raised 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.33.

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.