Commerce Bank Sells 1,074 Shares of Amcor plc (NYSE:AMCR)

Commerce Bank decreased its stake in shares of Amcor plc (NYSE:AMCR) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,999 shares of the company’s stock after selling 1,074 shares during the period. Commerce Bank’s holdings in Amcor were worth $623,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. M&G PLC grew its holdings 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 worth $549,342,000 after acquiring an additional 2,775,794 shares during the period. M&G Plc grew its stake in Amcor by 2,741.7% in the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after purchasing an additional 45,504,608 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Amcor by 11.3% in the first 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 in the last quarter. ProShare Advisors LLC lifted its position in Amcor by 7.8% during the second quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock valued at $194,783,000 after buying an additional 1,443,364 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings 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. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 0.1 %

NYSE:AMCR opened at $10.48 on Tuesday. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The stock has a market cap of $15.15 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.89 and a beta of 0.85. The company’s 50 day moving average price is $10.84 and its 200-day moving average price is $10.51. The company has a quick ratio of 0.74, a current ratio of 1.29 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 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the company earned $0.16 EPS. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently announced 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. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 4.87%. Amcor’s payout ratio is 96.23%.

Wall Street Analyst Weigh In

AMCR has been the subject of several research reports. Citigroup 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 Tuesday, August 20th. JPMorgan Chase & Co. lifted 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. Robert W. Baird upped their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Finally, Wells Fargo & Company raised their price objective on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Amcor has a consensus rating of “Hold” and a consensus price target of $10.94.

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.