Citigroup Inc. Lowers Stock Position in Amcor plc (NYSE:AMCR)

Citigroup Inc. cut its position in Amcor plc (NYSE:AMCR - Free Report) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,388,803 shares of the company's stock after selling 86,054 shares during the quarter. Citigroup Inc. owned 0.10% of Amcor worth $15,735,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. M&G Plc raised its position in shares of Amcor by 2,741.7% during the second quarter. M&G Plc now owns 47,164,358 shares of the company's stock worth $471,644,000 after acquiring an additional 45,504,608 shares during the last quarter. SteelPeak Wealth LLC acquired a new position in shares of Amcor in the 2nd quarter worth approximately $781,000. Cardinal Capital Management boosted its stake in shares of Amcor by 832.2% in the 2nd quarter. Cardinal Capital Management now owns 115,616 shares of the company's stock valued at $1,131,000 after purchasing an additional 103,213 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Amcor by 24.5% during the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company's stock worth $7,190,000 after buying an additional 124,945 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Amcor by 11.6% during the second quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company's stock worth $143,989,000 after buying an additional 1,527,492 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Up 1.1 %

Amcor stock traded up $0.11 during midday trading on Thursday, reaching $10.50. The stock had a trading volume of 19,363,937 shares, compared to its average volume of 9,356,792. Amcor plc has a 12 month low of $8.78 and a 12 month high of $11.48. The company has a market capitalization of $15.18 billion, a P/E ratio of 19.81, a PEG ratio of 1.89 and a beta of 0.85. The company has a fifty day moving average price of $10.80 and a two-hundred day moving average price of $10.51. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80.

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

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.1275 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 4.86%. This is an increase from Amcor's previous quarterly dividend of $0.13. Amcor's payout ratio is 96.23%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMCR shares. Macquarie upgraded Amcor from a "neutral" rating to an "outperform" rating in a report on Wednesday. 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. JPMorgan Chase & Co. lifted their price objective on Amcor from $10.00 to $11.10 and gave the stock an "overweight" rating in a research report on Tuesday, August 13th. Wells Fargo & Company lifted their price objective on Amcor from $10.50 to $10.80 and gave the stock an "equal weight" rating in a research report on Tuesday, October 15th. Finally, Citigroup lifted their price objective on Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Amcor presently has an average rating of "Hold" and an average price target of $10.94.

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.