Amcor plc

New York Stock Exchange
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Bullish +55

Assetmark Inc. Sells 211,691 Shares of Amcor PLC $AMCR

📉 Assetmark Inc. sold 211,691 shares of Amcor PLC in Q1, reducing its stake by 75.1% to hold 70,106 shares.

📈 Hsbc Holdings PLC significantly increased its position by 1,620.5%, acquiring an additional 633,554 shares worth $26.592 million.

💰 Amcor reported Q1 revenue of $5.91 billion, beating analyst estimates of $5.71 billion and growing 77.4% year-over-year.

📊 The company posted earnings per share of $0.96, which exactly met the consensus estimate of $0.96.

🏦 Bank of America raised its price target to $51.00 with a 'buy' rating, while Citigroup lowered its target to $47.00.

💵 Amcor paid a quarterly dividend of $0.65 per share on June 17th, offering a yield of 6.1%.

📉 The stock has a market cap of $19.73 billion and trades at a PE ratio of 29.84.

🌍 Amcor operates as a global packaging company specializing in flexible and rigid solutions for food, beverage, and pharmaceutical sectors.

Bullish Signals
  • Amcor reported revenue of $5.91 billion, which exceeded analyst consensus estimates of $5.71 billion.
  • Revenue grew by 77.4% year-over-year compared to the same quarter last year.
  • Bank of America increased its price target from $48.00 to $51.00 and maintained a 'buy' rating.
  • Truist Financial restated a 'buy' rating and raised its price target from $50.00 to $51.00.
  • Hsbc Holdings PLC increased its holdings by 1,620.5%, indicating strong institutional confidence.
  • The company achieved a return on equity of 14.55% with a net margin of 3.06%.
  • Deutsche Bank initiated coverage with a 'buy' rating and a $50.00 price objective.
Risk Factors
  • Citigroup lowered its price objective from $54.00 to $47.00, signaling some caution on valuation.
  • Wells Fargo & Company assigned an 'equal weight' rating with a lower price objective of $43.00.
  • The dividend payout ratio is 181.82%, which exceeds earnings and may limit future dividend growth or require share buybacks to sustain the yield.
Full Analysis
Assetmark Inc. reduced its stake in Amcor PLC by 75.1% in the first quarter, selling 211,691 shares and holding a remaining position of 70,106 shares valued at $2.787 million. Conversely, several other institutional investors increased their exposure, with Hsbc Holdings PLC boosting its holdings by 1,620.5% to own 672,649 shares worth $26.592 million. New positions were established by SteelPeak Wealth LLC, Citizens National Bank Trust Department, Ibex Wealth Advisors, and Greenwood Capital Associates LLC during the same period. Analyst sentiment remains mixed but generally positive regarding Amcor's valuation targets. Bank of America raised its price target to $51.00 with a 'buy' rating, while Truist Financial also increased its target to $51.00. Citigroup lowered its objective to $47.00, and Wells Fargo set a target at $43.00 with an 'equal weight' rating. Deutsche Bank initiated coverage with a 'buy' rating and a $50.00 price objective. The consensus average price target stands at $48.08. Financially, Amcor reported quarterly earnings of $0.96 per share, meeting analyst estimates exactly. Revenue reached $5.91 billion, surpassing the consensus estimate of $5.71 billion and representing a 77.4% year-over-year increase. The company maintains a market capitalization of $19.73 billion with a dividend yield of 6.1%, though the payout ratio is high at 181.82%. Shares recently opened at $42.68, trading between a 52-week low of $36.25 and a high of $50.94.