Nomura Asset Management Co. Ltd. Cuts Stock Position in Amcor plc (NYSE:AMCR)

Nomura Asset Management Co. Ltd. lessened its stake in Amcor plc (NYSE:AMCR - Free Report) by 6.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,919,067 shares of the company's stock after selling 248,070 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.27% of Amcor worth $44,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AMCR. National Bank of Canada FI raised its position in Amcor by 85.9% in the 3rd quarter. National Bank of Canada FI now owns 738,733 shares of the company's stock worth $8,370,000 after buying an additional 341,270 shares during the last quarter. iA Global Asset Management Inc. bought a new stake in shares of Amcor in the third quarter worth approximately $364,000. EP Wealth Advisors LLC purchased a new position in shares of Amcor during the third quarter valued at approximately $636,000. Kovitz Investment Group Partners LLC bought a new position in Amcor during the third quarter valued at approximately $232,000. Finally, Quantinno Capital Management LP boosted its holdings in Amcor by 9.2% in the third quarter. Quantinno Capital Management LP now owns 444,920 shares of the company's stock worth $5,041,000 after purchasing an additional 37,340 shares during the last quarter. Institutional investors own 45.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AMCR shares. Robert W. Baird boosted their target price on shares of Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Friday, August 16th. Citigroup increased their target price on Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price target on shares of Amcor from $10.00 to $11.10 and gave the company an "overweight" rating in a research report on Tuesday, August 13th. Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company boosted their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $10.94.

Amcor Price Performance

NYSE:AMCR traded down $0.08 on Tuesday, reaching $10.12. 18,946,987 shares of the company's stock traded hands, compared to its average volume of 9,594,015. The firm has a market cap of $14.62 billion, a PE ratio of 19.11, a P/E/G ratio of 1.83 and a beta of 0.82. 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 50-day simple moving average of $10.69 and a 200-day simple moving average of $10.52. Amcor plc has a 12 month low of $8.78 and a 12 month 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 EPS for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.33 billion. During the same period in the previous year, the firm earned $0.16 EPS. The firm's revenue was down 2.6% compared to the same quarter last year. Equities research analysts forecast that Amcor plc will post 0.74 earnings per share for the current 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 issued a $0.1275 dividend. This is an increase from Amcor's previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date is Thursday, November 21st. Amcor's payout ratio is currently 96.23%.

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.