JPMorgan Chase & Co. Has $99.64 Million Holdings in Amcor plc (NYSE:AMCR)

JPMorgan Chase & Co. cut its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,794,593 shares of the company's stock after selling 301,289 shares during the period. JPMorgan Chase & Co. owned about 0.61% of Amcor worth $99,643,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in Amcor by 5.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,969,613 shares of the company's stock worth $22,316,000 after purchasing an additional 105,457 shares during the period. Franklin Resources Inc. grew its stake in Amcor by 39.3% during the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company's stock valued at $8,162,000 after purchasing an additional 203,166 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Amcor by 292.5% during the 3rd quarter. Tidal Investments LLC now owns 81,439 shares of the company's stock valued at $923,000 after buying an additional 60,691 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in Amcor by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 53,132 shares of the company's stock valued at $557,000 after buying an additional 3,559 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Amcor during the 3rd quarter worth approximately $372,000. 45.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on AMCR shares. UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. 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 report on Wednesday, December 11th. Wells Fargo & Company raised their target price 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. Finally, Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $11.20.

Amcor Trading Down 0.2 %

NYSE AMCR traded down $0.02 on Friday, hitting $9.33. 11,864,581 shares of the stock were exchanged, compared to its average volume of 11,841,641. The company's 50-day moving average price is $10.12 and its two-hundred day moving average price is $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 capitalization of $13.49 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 1.80 and a beta of 0.82. 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 earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the business posted $0.16 earnings per share. The business's quarterly revenue was down 2.6% on a year-over-year basis. Research analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were given a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.47%. This is a boost from Amcor's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, November 21st. Amcor's dividend payout ratio is currently 96.23%.

About Amcor

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.