Diversify Advisory Services LLC Sells 97,691 Shares of Amcor plc (NYSE:AMCR)

Diversify Advisory Services LLC reduced its stake in shares of Amcor plc (NYSE:AMCR) by 54.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 83,224 shares of the company’s stock after selling 97,691 shares during the period. Diversify Advisory Services LLC’s holdings in Amcor were worth $783,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares during the period. Rise Advisors LLC purchased a new stake in shares of Amcor during the 3rd quarter valued at approximately $35,000. ORG Wealth Partners LLC bought a new position in Amcor in the 3rd quarter worth approximately $35,000. True Wealth Design LLC grew its stake in Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Amcor by 296.3% during the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after acquiring an additional 3,242 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of NYSE AMCR opened at $9.79 on Wednesday. The stock’s 50-day moving average is $9.88 and its 200 day moving average is $10.45. The stock has a market cap of $14.14 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 1.75 and a beta of 0.84. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the company earned $0.16 EPS. The firm’s revenue was down 2.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were given a $0.1275 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 5.21%. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is presently 96.23%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a report on Wednesday, December 11th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company upped their price target 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. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.46.

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.