Amcor plc (NYSE:AMCR) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. decreased its holdings in shares of Amcor plc (NYSE:AMCR) by 43.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,047 shares of the company’s stock after selling 9,284 shares during the period. Wrapmanager Inc.’s holdings in Amcor were worth $136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans lifted its holdings in Amcor by 1.9% during the third quarter. Thrivent Financial for Lutherans now owns 163,234 shares of the company’s stock valued at $1,850,000 after purchasing an additional 3,019 shares in the last quarter. Claro Advisors LLC acquired a new stake in Amcor in the 3rd quarter worth about $152,000. Atlanta Consulting Group Advisors LLC purchased a new stake in Amcor during the 3rd quarter worth approximately $399,000. Natixis Advisors LLC raised its holdings in shares of Amcor by 24.5% during the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after acquiring an additional 124,945 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Amcor by 6.0% in the third quarter. Empowered Funds LLC now owns 133,379 shares of the company’s stock valued at $1,511,000 after acquiring an additional 7,507 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Robert W. Baird increased their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Wells Fargo & Company boosted their price target 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, Citigroup increased their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.94.

Amcor Trading Down 2.6 %

Shares of AMCR opened at $9.89 on Wednesday. Amcor plc has a 12-month low of $8.78 and a 12-month high of $11.48. The firm has a market capitalization of $14.29 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.84 and a beta of 0.85. The firm has a 50-day moving average price of $10.88 and a 200 day moving average price of $10.50. 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 posted its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 earnings per share. Sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be given 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 dividend on an annualized basis and a yield of 5.16%. Amcor’s payout ratio is 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.