Amcor plc (NYSE:AMCR) Holdings Lowered by Raymond James & Associates

Raymond James & Associates trimmed its position in Amcor plc (NYSE:AMCR) by 24.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,481,193 shares of the company’s stock after selling 798,397 shares during the period. Raymond James & Associates owned approximately 0.17% of Amcor worth $28,112,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Amcor by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after purchasing an additional 1,170,986 shares in the last quarter. M&G Plc lifted 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 last quarter. Price T Rowe Associates Inc. MD boosted 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 acquiring an additional 2,086,698 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Amcor by 7.8% in the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock worth $194,783,000 after acquiring an additional 1,443,364 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Amcor by 11.6% during the second quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock worth $143,989,000 after purchasing an additional 1,527,492 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMCR. Wells Fargo & Company increased their price target on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Citigroup lifted 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. Robert W. Baird upped their price target 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. JPMorgan Chase & Co. lifted their price objective 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. Finally, Stifel Nicolaus started coverage on Amcor in a research report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 target price for the company. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.78.

Amcor Trading Up 0.4 %

Shares of NYSE:AMCR opened at $11.03 on Thursday. The firm has a fifty day moving average of $11.12 and a two-hundred day moving average of $10.32. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. Amcor plc has a 12-month low of $8.51 and a 12-month high of $11.48. The firm has a market capitalization of $15.94 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 2.72 and a beta of 0.85.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, August 15th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The firm had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, equities analysts expect that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 6th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date was Friday, September 6th. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

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.