Pathstone Holdings LLC cut its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,263,914 shares of the company's stock after selling 57,074 shares during the quarter. Pathstone Holdings LLC owned approximately 0.09% of Amcor worth $14,320,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. M&G Plc lifted its stake in Amcor by 2,741.7% during the second quarter. M&G Plc now owns 47,164,358 shares of the company's stock valued at $471,644,000 after purchasing an additional 45,504,608 shares during the last quarter. M&G PLC raised its position in Amcor by 5.9% in the third quarter. M&G PLC now owns 49,940,152 shares of the company's stock worth $549,342,000 after purchasing an additional 2,775,794 shares in the last quarter. AQR Capital Management LLC grew its stake in Amcor by 356.1% during the second quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company's stock worth $28,659,000 after buying an additional 2,287,826 shares during the last quarter. 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 purchasing an additional 2,086,698 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Amcor by 11.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company's stock worth $143,989,000 after purchasing an additional 1,527,492 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.
Amcor Stock Up 4.5 %
Shares of Amcor stock traded up $0.45 on Wednesday, hitting $10.34. The company had a trading volume of 45,674,131 shares, compared to its average volume of 9,124,460. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The stock has a market capitalization of $14.94 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 1.84 and a beta of 0.85. The stock has a 50 day moving average of $10.88 and a 200-day moving average of $10.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29.
Amcor (NYSE:AMCR - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. The firm had revenue of $3.35 billion for 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 company's revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 EPS. As a group, sell-side analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.
Amcor Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Amcor's previous quarterly dividend of $0.13. Amcor's dividend payout ratio (DPR) is 94.34%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on AMCR. JPMorgan Chase & Co. lifted their price objective on Amcor from $10.00 to $11.10 and gave the company an "overweight" rating in a report on Tuesday, August 13th. Robert W. Baird increased their target price on Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Friday, August 16th. Wells Fargo & Company boosted 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, Citigroup lifted their target price on Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $10.94.
Read Our Latest Research Report on Amcor
About Amcor
(
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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