Keudell Morrison Wealth Management Sells 3,495 Shares of Amcor plc (NYSE:AMCR)

Keudell Morrison Wealth Management trimmed its position in Amcor plc (NYSE:AMCR) by 13.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 21,926 shares of the company’s stock after selling 3,495 shares during the period. Keudell Morrison Wealth Management’s holdings in Amcor were worth $248,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. M&G Plc grew its position 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 valued at $471,644,000 after acquiring an additional 45,504,608 shares during the period. M&G PLC lifted its stake in shares of Amcor by 5.9% during the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after buying an additional 2,775,794 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Amcor by 356.1% during the 2nd quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock valued at $28,659,000 after buying an additional 2,287,826 shares in 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 valued at $195,946,000 after buying an additional 2,086,698 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Amcor by 11.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock valued at $143,989,000 after buying an additional 1,527,492 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

Amcor Trading Up 0.1 %

Shares of NYSE AMCR opened at $10.21 on Friday. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The stock has a market cap of $14.76 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 1.83 and a beta of 0.85. The firm has a 50-day moving average of $11.08 and a 200 day moving average of $10.44. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.42.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share. As a group, sell-side analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be issued a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 5.00%. Amcor’s payout ratio is 94.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Citigroup raised their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Wells Fargo & Company raised their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.94.

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.