Amcor plc (NYSE:AMCR) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets cut its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 13.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,193,328 shares of the company's stock after selling 335,347 shares during the period. BNP Paribas Financial Markets owned about 0.15% of Amcor worth $24,850,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMCR. Larson Financial Group LLC raised its position in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock worth $27,000 after purchasing an additional 2,319 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of Amcor in the third quarter valued at approximately $35,000. ORG Wealth Partners LLC acquired a new stake in shares of Amcor in the third quarter worth approximately $35,000. Quent Capital LLC increased its position in shares of Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company's stock worth $36,000 after purchasing an additional 1,241 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Amcor by 132.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company's stock worth $39,000 after purchasing an additional 2,519 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Trading Up 1.3 %

NYSE:AMCR traded up $0.14 on Friday, hitting $10.64. The stock had a trading volume of 17,920,024 shares, compared to its average volume of 9,393,862. The company has a fifty day moving average price of $10.80 and a two-hundred day moving average price of $10.51. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The stock has a market cap of $15.38 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.89 and a beta of 0.85.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the business posted $0.16 earnings per share. The firm's revenue for the quarter was down 2.6% compared to the same quarter last year. Equities research analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a $0.1275 dividend. This is a positive change from Amcor's previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend is Thursday, November 21st. Amcor's payout ratio is 96.23%.

Analysts Set New Price Targets

AMCR has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Amcor from $10.00 to $11.10 and gave the stock an "overweight" rating in a research note on Tuesday, August 13th. Wells Fargo & Company raised their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an "equal weight" rating in a research note on Tuesday, October 15th. Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a research note on Wednesday. Citigroup upped their price target on Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Finally, Robert W. Baird lifted their price objective on Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $10.94.

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.