Envestnet Portfolio Solutions Inc. Sells 47,737 Shares of Amcor plc (NYSE:AMCR)

Envestnet Portfolio Solutions Inc. cut its holdings in Amcor plc (NYSE:AMCR - Free Report) by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 657,834 shares of the company's stock after selling 47,737 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Amcor were worth $6,190,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC increased its stake in shares of Amcor by 3,410.3% in the third 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 period. True Wealth Design LLC increased its stake in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock worth $38,000 after purchasing an additional 3,225 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock worth $35,000 after purchasing an additional 2,660 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Amcor in the fourth quarter worth about $44,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Amcor in the fourth quarter worth about $60,000. 45.14% of the stock is currently owned by institutional investors.

Amcor Price Performance

NYSE AMCR traded up $0.07 during trading on Tuesday, reaching $9.91. 25,436,576 shares of the company traded hands, compared to its average volume of 11,890,187. The company has a market cap of $14.32 billion, a price-to-earnings ratio of 18.01, a P/E/G ratio of 1.96 and a beta of 0.80. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The stock's 50 day moving average price is $9.91 and its two-hundred day moving average price is $10.33.

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Amcor (NYSE:AMCR - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor's revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. As a group, analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.15%. The ex-dividend date is Wednesday, February 26th. Amcor's payout ratio is currently 92.73%.

Insider Transactions at Amcor

In other Amcor news, Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the acquisition, the director now directly owns 88,967 shares of the company's stock, valued at $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMCR. Macquarie raised Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Bank of America raised Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price on the stock in a research report on Wednesday, December 11th. Truist Financial raised Amcor from a "hold" rating to a "buy" rating and lifted their target price for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Citigroup raised Amcor from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Amcor presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.46.

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.