Amcor plc (NYSE:AMCR) Holdings Cut by Stifel Financial Corp

Stifel Financial Corp lowered its position in Amcor plc (NYSE:AMCR - Free Report) by 11.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,086,251 shares of the company's stock after selling 141,142 shares during the quarter. Stifel Financial Corp owned 0.08% of Amcor worth $12,307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AMCR. Larson Financial Group LLC increased its position in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock worth $27,000 after acquiring an additional 2,319 shares in the last quarter. Rise Advisors LLC acquired a new stake in Amcor in the 3rd quarter valued at $35,000. ORG Wealth Partners LLC purchased a new position in Amcor in the third quarter valued at about $35,000. True Wealth Design LLC lifted its stake in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock worth $38,000 after purchasing an additional 3,225 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Amcor by 38.7% in the second quarter. UMB Bank n.a. now owns 4,656 shares of the company's stock worth $46,000 after buying an additional 1,299 shares during the period. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Stock Down 0.4 %

AMCR stock traded down $0.04 during mid-day trading on Thursday, hitting $9.98. 15,017,144 shares of the company were exchanged, compared to its average volume of 9,627,153. The firm has a fifty day simple moving average of $10.65 and a 200 day simple moving average of $10.52. The company has a market capitalization of $14.42 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 1.83 and a beta of 0.82. Amcor plc has a twelve month low of $8.78 and a twelve month high of $11.48. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80.

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 business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the firm earned $0.16 earnings per share. The company's revenue for the quarter was down 2.6% compared to the same quarter last year. On average, research analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were given a dividend of $0.1275 per share. This is a positive change from Amcor's previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend was Thursday, November 21st. Amcor's dividend payout ratio is currently 96.23%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AMCR shares. Macquarie upgraded Amcor from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 27th. Robert W. Baird boosted 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 Friday, August 16th. Wells Fargo & Company raised their price target on shares of Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a report on Tuesday, October 15th. Citigroup boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Finally, Bank of America upgraded Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price for the company in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $11.20.

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.