Park Place Capital Corp Reduces Position in Amcor plc (NYSE:AMCR)

Park Place Capital Corp decreased its position in Amcor plc (NYSE:AMCR) by 12.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,369 shares of the company’s stock after selling 4,733 shares during the period. Park Place Capital Corp’s holdings in Amcor were worth $317,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wealth Alliance increased its position in shares of Amcor by 1.9% in the 4th quarter. Wealth Alliance now owns 55,592 shares of the company’s stock valued at $536,000 after purchasing an additional 1,061 shares during the last quarter. Czech National Bank grew its position in Amcor by 0.5% during the 1st quarter. Czech National Bank now owns 254,309 shares of the company’s stock worth $2,418,000 after purchasing an additional 1,166 shares during the last quarter. Global Retirement Partners LLC grew its position in Amcor by 17.0% during the 4th quarter. Global Retirement Partners LLC now owns 8,397 shares of the company’s stock worth $80,000 after purchasing an additional 1,222 shares during the last quarter. MV Capital Management Inc. lifted its stake in shares of Amcor by 33.7% in the 4th quarter. MV Capital Management Inc. now owns 5,193 shares of the company’s stock worth $50,000 after acquiring an additional 1,310 shares during the period. Finally, Cornercap Investment Counsel Inc. lifted its stake in shares of Amcor by 1.5% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 107,305 shares of the company’s stock worth $1,034,000 after acquiring an additional 1,539 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMCR. JPMorgan Chase & Co. lifted their target price on shares of Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Wells Fargo & Company began coverage on shares of Amcor in a research report on Friday. They set an “equal weight” rating and a $9.80 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Amcor presently has a consensus rating of “Hold” and an average target price of $9.93.

Amcor Stock Performance

Shares of AMCR opened at $9.61 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 0.75 and a debt-to-equity ratio of 1.76. The stock has a market cap of $13.88 billion, a P/E ratio of 21.34, a PEG ratio of 5.33 and a beta of 0.86. The company has a 50-day moving average of $9.90 and a two-hundred day moving average of $9.55. Amcor plc has a 12-month low of $8.45 and a 12-month high of $10.51.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. As a group, research analysts predict that Amcor plc will post 0.7 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.21%. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.