Sigma Planning Corp Sells 2,692 Shares of Amcor plc (NYSE:AMCR)

Sigma Planning Corp trimmed its stake in Amcor plc (NYSE:AMCR) by 6.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,033 shares of the company’s stock after selling 2,692 shares during the quarter. Sigma Planning Corp’s holdings in Amcor were worth $420,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Rise Advisors LLC acquired a new position in shares of Amcor during the third quarter worth approximately $35,000. ORG Wealth Partners LLC acquired a new position in shares of Amcor during the third quarter valued at about $35,000. Quent Capital LLC grew its holdings in shares of Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after buying an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Amcor by 132.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after acquiring an additional 2,519 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Amcor by 38.7% in the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after acquiring an additional 1,299 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on AMCR shares. Robert W. Baird increased their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. 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 upped their target price 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. Finally, JPMorgan Chase & Co. increased 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. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Amcor has an average rating of “Hold” and an average target price of $10.94.

Amcor Trading Up 0.4 %

NYSE AMCR opened at $10.22 on Friday. The business’s fifty day moving average is $10.94 and its 200-day moving average is $10.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The stock has a market capitalization of $14.77 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.82 and a beta of 0.85. Amcor plc has a one year low of $8.78 and a one year high of $11.48.

Amcor (NYSE:AMCR) last released its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 EPS. Equities research analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date is Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is currently 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.