Park Place Capital Corp Has $317,000 Stake in Amcor plc (NYSE:AMCR)

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

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Amcor by 12.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 246,555 shares of the company’s stock worth $2,377,000 after buying an additional 27,077 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Amcor by 173.4% in the 4th quarter. Teacher Retirement System of Texas now owns 311,839 shares of the company’s stock valued at $3,006,000 after purchasing an additional 197,760 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Amcor by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 56,479,105 shares of the company’s stock valued at $517,349,000 after purchasing an additional 325,747 shares in the last quarter. CHURCHILL MANAGEMENT Corp boosted its holdings in shares of Amcor by 60.0% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 601,225 shares of the company’s stock valued at $5,718,000 after purchasing an additional 225,441 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Amcor by 20.3% in the 4th quarter. Handelsbanken Fonder AB now owns 1,345,800 shares of the company’s stock valued at $12,974,000 after purchasing an additional 227,145 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AMCR shares. JPMorgan Chase & Co. raised their target price on Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Wells Fargo & Company started coverage on Amcor in a report on Friday. They issued an “equal weight” rating and a $9.80 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $9.93.

Amcor Stock Down 1.8 %

Shares of AMCR opened at $9.61 on Tuesday. Amcor plc has a 52 week low of $8.45 and a 52 week high of $10.51. The stock has a market capitalization of $13.88 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 5.33 and a beta of 0.86. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29. The stock has a fifty day moving average of $9.90 and a 200-day moving average of $9.55.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 EPS for the quarter, beating 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 return on equity of 24.66% and a net margin of 4.75%. Amcor’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. As a group, sell-side analysts anticipate that Amcor plc will post 0.7 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 22nd were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 5.21%. The ex-dividend date was Tuesday, May 21st. Amcor’s dividend payout ratio is currently 111.11%.

Amcor 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.