Verdence Capital Advisors LLC Reduces Holdings in Amcor plc (NYSE:AMCR)

Verdence Capital Advisors LLC decreased its position in shares of Amcor plc (NYSE:AMCR) by 8.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 103,554 shares of the company’s stock after selling 9,211 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Amcor were worth $1,173,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its position in Amcor by 244.2% during the first quarter. Empowered Funds LLC now owns 103,655 shares of the company’s stock worth $986,000 after purchasing an additional 73,541 shares during the period. Forsta AP Fonden grew its stake in Amcor by 29.7% in the 1st quarter. Forsta AP Fonden now owns 700,400 shares of the company’s stock valued at $6,661,000 after buying an additional 160,300 shares in the last quarter. Keudell Morrison Wealth Management raised its holdings in Amcor by 15.0% during the 1st quarter. Keudell Morrison Wealth Management now owns 25,793 shares of the company’s stock valued at $245,000 after acquiring an additional 3,369 shares during the period. NorthRock Partners LLC raised its holdings in Amcor by 2.0% during the 1st quarter. NorthRock Partners LLC now owns 54,237 shares of the company’s stock valued at $516,000 after acquiring an additional 1,050 shares during the period. Finally, Meeder Advisory Services Inc. lifted its position in shares of Amcor by 21.1% during the first quarter. Meeder Advisory Services Inc. now owns 38,235 shares of the company’s stock worth $364,000 after acquiring an additional 6,650 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

NYSE:AMCR opened at $10.22 on Friday. The stock has a market cap of $14.77 billion, a P/E ratio of 19.28, a PEG ratio of 1.83 and a beta of 0.85. The company has a quick ratio of 0.42, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The business’s 50-day moving average price is $11.03 and its two-hundred day moving average price is $10.44. Amcor plc has a twelve month low of $8.78 and a twelve month high of $11.48.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the firm posted $0.16 earnings per share. Amcor’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, equities analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be given a $0.1275 dividend. The ex-dividend date is Thursday, November 21st. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 4.99%. Amcor’s payout ratio is 94.34%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AMCR shares. Wells Fargo & Company boosted their price objective 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 upped their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Finally, Citigroup upped their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.94.

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.