Envestnet Portfolio Solutions Inc. Sells 47,737 Shares of Amcor plc (NYSE:AMCR)

Envestnet Portfolio Solutions Inc. lessened its position in Amcor plc (NYSE:AMCR) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 657,834 shares of the company’s stock after selling 47,737 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Amcor were worth $6,190,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AMCR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Amcor by 275.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after buying an additional 4,851,222 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Amcor by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after buying an additional 2,862,471 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Amcor by 39,411.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock worth $31,855,000 after buying an additional 2,804,484 shares during the period. Raymond James Financial Inc. purchased a new position in Amcor in the 4th quarter worth about $23,810,000. Finally, Barclays PLC increased its stake in Amcor by 31.8% in the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after buying an additional 1,096,664 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 0.7 %

Shares of Amcor stock opened at $9.85 on Tuesday. The firm’s 50 day moving average price is $9.91 and its 200-day moving average price is $10.33. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48. The company has a market cap of $14.23 billion, a P/E ratio of 17.90, a PEG ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the firm earned $0.09 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, sell-side analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Insider Buying and Selling

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on AMCR shares. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Wednesday, December 11th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Finally, Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

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.