Amcor plc (NYSE:AMCR) Shares Sold by Wealth Alliance

Wealth Alliance reduced its stake in Amcor plc (NYSE:AMCR) by 7.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 43,159 shares of the company’s stock after selling 3,634 shares during the quarter. Wealth Alliance’s holdings in Amcor were worth $406,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Amcor by 275.3% during 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 worth $74,931,000 after buying an additional 4,851,222 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Amcor by 39,411.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock worth $31,855,000 after buying an additional 2,804,484 shares in the last quarter. M&G PLC lifted its holdings 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 buying an additional 2,775,794 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Amcor by 4.8% during the 3rd 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 in the last quarter. Finally, KBC Group NV lifted its holdings in Amcor by 94.8% during the 3rd quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock worth $33,312,000 after buying an additional 1,430,545 shares in 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 research analysts have issued reports on AMCR shares. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $12.00 in a report on Monday, January 6th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Finally, Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amcor has an average rating of “Moderate Buy” and an average price target of $11.46.

Amcor Trading Down 1.5 %

Shares of Amcor stock opened at $10.24 on Friday. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The company has a market capitalization of $14.79 billion, a P/E ratio of 18.61, a PEG ratio of 1.95 and a beta of 0.84. The company’s fifty day moving average is $9.72 and its two-hundred day moving average is $10.42.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the firm posted $0.09 EPS. Amcor’s revenue for the quarter was down .3% on a year-over-year basis. Analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s payout ratio is currently 92.73%.

Amcor Company 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.