Raymond James & Associates lowered its holdings in Amcor plc (NYSE:AMCR - Free Report) by 24.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,481,193 shares of the company's stock after selling 798,397 shares during the quarter. Raymond James & Associates owned 0.17% of Amcor worth $28,112,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in shares of Amcor during the 1st quarter worth approximately $28,000. Rise Advisors LLC acquired a new stake in shares of Amcor during the 3rd quarter worth approximately $35,000. ORG Wealth Partners LLC acquired a new stake in shares of Amcor during the 3rd quarter worth approximately $35,000. Quent Capital LLC grew its holdings in shares of Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company's stock worth $36,000 after purchasing an additional 1,241 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company's stock worth $39,000 after purchasing an additional 2,519 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.
Analyst Ratings Changes
AMCR has been the topic of several recent analyst reports. Stifel Nicolaus initiated coverage on Amcor in a research note on Tuesday, July 9th. They issued a "hold" rating and a $10.80 price target on the stock. Wells Fargo & Company boosted their price target on Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a research note on Tuesday, October 15th. Robert W. Baird boosted their price target on Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Friday, August 16th. Citigroup lifted their price objective on Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. lifted their price objective on Amcor from $10.00 to $11.10 and gave the company an "overweight" rating in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Amcor has an average rating of "Hold" and an average price target of $10.78.
Check Out Our Latest Stock Report on Amcor
Amcor Price Performance
AMCR traded up $0.02 during trading on Thursday, hitting $11.06. The company's stock had a trading volume of 5,205,041 shares, compared to its average volume of 8,823,850. The firm's 50 day moving average price is $11.12 and its two-hundred day moving average price 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 12 month low of $8.51 and a 12 month high of $11.48. The stock has a market capitalization of $15.99 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 2.72 and a beta of 0.85.
Amcor (NYSE:AMCR - Get Free Report) last released its earnings results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, hitting analysts' consensus estimates of $0.21. The company had revenue of $3.54 billion during 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 firm's quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. Sell-side analysts forecast that Amcor plc will post 0.75 earnings per share for the current fiscal year.
Amcor Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 6th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.52%. Amcor's payout ratio is currently 111.11%.
Amcor Company Profile
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Free Report)
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.
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