Exchange Traded Concepts LLC Has $1.16 Million Stake in Amcor plc (NYSE:AMCR)

Exchange Traded Concepts LLC cut its holdings in Amcor plc (NYSE:AMCR - Free Report) by 68.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 123,347 shares of the company's stock after selling 265,918 shares during the period. Exchange Traded Concepts LLC's holdings in Amcor were worth $1,161,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Diversify Wealth Management LLC grew its position in Amcor by 101.5% during the fourth quarter. Diversify Wealth Management LLC now owns 318,849 shares of the company's stock worth $3,000,000 after buying an additional 160,579 shares in the last quarter. HB Wealth Management LLC increased its holdings in Amcor by 41.0% in the 4th quarter. HB Wealth Management LLC now owns 68,466 shares of the company's stock valued at $644,000 after buying an additional 19,915 shares during the period. Financial & Tax Architects LLC increased its holdings in Amcor by 12.8% in the 4th quarter. Financial & Tax Architects LLC now owns 56,579 shares of the company's stock valued at $532,000 after buying an additional 6,434 shares during the period. Merit Financial Group LLC acquired a new position in shares of Amcor in the 4th quarter valued at $127,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Amcor by 5.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 156,111 shares of the company's stock worth $1,469,000 after acquiring an additional 8,078 shares during the period. Institutional investors and hedge funds own 45.14% of the company's stock.

Analyst Upgrades and Downgrades

AMCR has been the topic of a number of analyst reports. UBS Group raised shares of Amcor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 11th. Macquarie raised Amcor from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 27th. Truist Financial upgraded Amcor from a "hold" rating to a "buy" rating and raised their target price for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Bank of America upgraded shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price on the stock in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $11.46.

Amcor Stock Down 0.8 %

Shares of AMCR traded down $0.08 during mid-day trading on Tuesday, hitting $9.82. 12,623,013 shares of the company's stock were exchanged, compared to its average volume of 15,874,409. The company has a 50-day simple moving average of $9.84 and a 200 day simple moving average of $10.46. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The company has a market cap of $14.19 billion, a PE ratio of 18.52, a P/E/G ratio of 1.86 and a beta of 0.84. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48.

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

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Amcor's previous quarterly dividend of $0.13. Amcor's payout ratio is currently 96.23%.

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.