Amcor plc (NYSE:AMCR) Shares Sold by Coston McIsaac & Partners

Coston McIsaac & Partners decreased its holdings in Amcor plc (NYSE:AMCR - Free Report) by 98.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,289 shares of the company's stock after selling 334,405 shares during the period. Coston McIsaac & Partners' holdings in Amcor were worth $71,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. M&G Plc boosted its stake in shares of Amcor by 2,741.7% during the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company's stock worth $471,644,000 after purchasing an additional 45,504,608 shares during the period. AQR Capital Management LLC boosted its position in shares of Amcor by 356.1% during the second quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company's stock valued at $28,659,000 after buying an additional 2,287,826 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Amcor by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company's stock valued at $195,946,000 after buying an additional 2,086,698 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Amcor by 11.6% in 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 period. Finally, ProShare Advisors LLC lifted its stake in shares of Amcor by 7.8% during the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company's stock worth $194,783,000 after acquiring an additional 1,443,364 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Stock Up 0.4 %

Shares of NYSE AMCR traded up $0.04 during midday trading on Wednesday, reaching $11.03. 6,587,023 shares of the company's stock traded hands, compared to its average volume of 8,841,503. The company has a market cap of $15.94 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 2.72 and a beta of 0.85. The stock's 50 day simple moving average is $11.12 and its 200-day simple moving average is $10.32. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. Amcor plc has a one year low of $8.51 and a one year high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.21. The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The business's revenue was down 3.8% compared to the same quarter last year. During the same period last year, the business posted $0.19 EPS. On average, analysts predict that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 6th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend was Friday, September 6th. Amcor's dividend payout ratio is currently 111.11%.

Analyst Ratings Changes

AMCR has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. raised their price target on shares of Amcor from $10.00 to $11.10 and gave the stock an "overweight" rating in a research note on Tuesday, August 13th. Robert W. Baird boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Friday, August 16th. Citigroup raised their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. Finally, Stifel Nicolaus began coverage on Amcor in a report on Tuesday, July 9th. They issued a "hold" rating and a $10.80 price target for the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Amcor has an average rating of "Hold" and an average target price of $10.78.

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.