Lester Murray Antman dba SimplyRich Sells 7,867 Shares of Amcor plc (NYSE:AMCR)

Lester Murray Antman dba SimplyRich lowered its stake in Amcor plc (NYSE:AMCR) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,450 shares of the company’s stock after selling 7,867 shares during the quarter. Lester Murray Antman dba SimplyRich’s holdings in Amcor were worth $540,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. M&G PLC increased its position in Amcor by 5.9% during the 3rd 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. Charles Schwab Investment Management Inc. grew its stake in shares of Amcor by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock worth $489,348,000 after buying an additional 1,960,308 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Amcor by 2.0% during the third quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock worth $410,144,000 after buying an additional 697,320 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Amcor by 275.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock valued at $74,931,000 after acquiring an additional 4,851,222 shares during the last quarter. Finally, Vest Financial LLC lifted its stake in shares of Amcor by 7.3% in the 4th quarter. Vest Financial LLC now owns 5,127,348 shares of the company’s stock valued at $48,248,000 after acquiring an additional 348,026 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a report on Wednesday, December 11th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. 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 report on Tuesday, October 15th. Finally, Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and raised their price target for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Stock Down 0.2 %

Shares of NYSE AMCR opened at $10.02 on Wednesday. The company’s 50 day moving average price is $9.73 and its 200-day moving average price is $10.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.26. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48. The company has a market capitalization of $14.48 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 1.92 and a beta of 0.84.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.09%. The ex-dividend date is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

About Amcor

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.