HORAN Wealth LLC Cuts Stock Holdings in Amcor PLC $AMCR

HORAN Wealth LLC decreased its stake in Amcor PLC (NYSE:AMCR) by 18.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,260 shares of the company’s stock after selling 21,524 shares during the period. HORAN Wealth LLC’s holdings in Amcor were worth $3,999,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AdvisorNet Financial Inc purchased a new stake in shares of Amcor in the 1st quarter valued at $25,000. Bangor Savings Bank bought a new stake in shares of Amcor in the second quarter worth about $26,000. Western Wealth Management LLC bought a new stake in shares of Amcor in the 1st quarter worth approximately $27,000. DV Equities LLC bought a new stake in shares of Amcor during the 4th quarter valued at about $27,000. Finally, Larson Financial Group LLC grew its stake in Amcor by 46.1% in the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after purchasing an additional 1,257 shares during the period. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Price Performance

Amcor stock opened at $45.17 on Monday. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The stock has a market cap of $20.88 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 2.47 and a beta of 0.60. The firm has a 50-day moving average of $45.39 and a two-hundred day moving average of $42.56. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.25 and a quick ratio of 0.76.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Thursday, August 13th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.19 by $0.04. The company had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.05 billion. Amcor had a return on equity of 15.92% and a net margin of 4.71%.Amcor’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period last year, the business posted $0.20 EPS. On average, research analysts forecast that Amcor PLC will post 1.84 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, September 4th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Friday, September 4th. Amcor’s dividend payout ratio (DPR) is presently 110.17%.

Analysts Set New Price Targets

A number of research analysts have issued reports on AMCR shares. Bank of America lifted their price objective on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $47.00 price objective (up from $44.00) on shares of Amcor in a report on Monday, August 17th. Citigroup restated a “buy” rating and issued a $52.00 price objective (up from $47.00) on shares of Amcor in a research report on Friday, August 14th. Jefferies Financial Group set a $44.92 target price on shares of Amcor and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company increased their target price on Amcor from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.49.

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.