Cornercap Investment Counsel Inc. Has $773,000 Holdings in Amcor plc (NYSE:AMCR)

Cornercap Investment Counsel Inc. trimmed its position in Amcor plc (NYSE:AMCR) by 35.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,241 shares of the company’s stock after selling 37,577 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Amcor were worth $773,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. M&G Plc lifted its holdings in shares of Amcor by 2,741.7% during the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after acquiring an additional 45,504,608 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Amcor by 236.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,648,279 shares of the company’s stock valued at $15,675,000 after purchasing an additional 1,157,878 shares in the last quarter. SteelPeak Wealth LLC bought a new stake in shares of Amcor in the 2nd quarter valued at approximately $781,000. Vanguard Group Inc. raised its holdings in shares of Amcor by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after buying an additional 1,170,986 shares in the last quarter. Finally, Cardinal Capital Management lifted its position in shares of Amcor by 832.2% during the 2nd quarter. Cardinal Capital Management now owns 115,616 shares of the company’s stock worth $1,131,000 after buying an additional 103,213 shares during the period. 45.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMCR has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Wells Fargo & Company raised their price objective 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. Citigroup boosted 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. Finally, Robert W. Baird lifted their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.94.

Amcor Stock Performance

AMCR stock opened at $10.22 on Friday. The stock has a market capitalization of $14.77 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.82 and a beta of 0.85. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The company has a 50 day moving average price of $10.92 and a 200 day moving average price of $10.49. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48.

Amcor (NYSE:AMCR) last released 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 company had revenue of $3.35 billion during 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 firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 earnings per share. Analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.1275 per share. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.51 annualized dividend and a dividend yield of 4.99%. Amcor’s payout ratio is currently 94.34%.

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.