Amcor plc (NYSE:AMCR) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC lessened its stake in shares of Amcor plc (NYSE:AMCR) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,263,914 shares of the company’s stock after selling 57,074 shares during the quarter. Pathstone Holdings LLC’s holdings in Amcor were worth $14,320,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Amcor by 2.1% in the first quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock valued at $539,686,000 after buying an additional 1,170,986 shares during the last quarter. M&G PLC grew its stake in Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after acquiring an additional 2,775,794 shares during the period. M&G Plc raised its holdings in Amcor by 2,741.7% in the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after acquiring an additional 45,504,608 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Amcor by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock worth $195,946,000 after purchasing an additional 2,086,698 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Amcor by 7.8% during the second quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock worth $194,783,000 after purchasing an additional 1,443,364 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Down 2.6 %

Shares of NYSE:AMCR opened at $9.89 on Wednesday. The stock has a 50-day simple moving average of $10.88 and a 200-day simple moving average of $10.50. The stock has a market capitalization of $14.29 billion, a P/E ratio of 18.66, a PEG ratio of 1.84 and a beta of 0.85. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Thursday, October 31st. 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 5.68% and a return on equity of 25.60%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm earned $0.16 earnings per share. Amcor’s revenue for the quarter was down 2.6% on a year-over-year basis. Equities analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders 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 5.16%. Amcor’s dividend payout ratio (DPR) is 94.34%.

Analyst Ratings Changes

Several research firms recently weighed in on AMCR. Wells Fargo & Company increased their target price on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Citigroup increased 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. JPMorgan Chase & Co. boosted their target price on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Finally, Robert W. Baird increased their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company 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.