Atria Investments Inc Reduces Stock Holdings in Amcor plc (NYSE:AMCR)

Atria Investments Inc reduced its holdings in Amcor plc (NYSE:AMCR) by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,058 shares of the company’s stock after selling 15,405 shares during the period. Atria Investments Inc’s holdings in Amcor were worth $1,734,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Lake Street Advisors Group LLC boosted its holdings in shares of Amcor by 8.4% in the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock valued at $138,000 after acquiring an additional 946 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Amcor by 9.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock valued at $132,000 after acquiring an additional 1,023 shares during the last quarter. Forum Financial Management LP boosted its holdings in shares of Amcor by 7.7% in the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock valued at $167,000 after acquiring an additional 1,058 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after acquiring an additional 1,241 shares during the last quarter. Finally, Arkadios Wealth Advisors boosted its holdings in shares of Amcor by 5.3% in the 2nd quarter. Arkadios Wealth Advisors now owns 25,597 shares of the company’s stock valued at $250,000 after acquiring an additional 1,298 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on AMCR shares. Wells Fargo & Company upped their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Citigroup boosted their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Robert W. Baird boosted their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.94.

Amcor Stock Performance

NYSE:AMCR opened at $10.22 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The company has a fifty day moving average of $10.94 and a two-hundred day moving average of $10.48. The stock has a market capitalization of $14.77 billion, a PE ratio of 19.36, a P/E/G ratio of 1.82 and a beta of 0.85. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. As a group, 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. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. 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 dividend yield of 4.99%. Amcor’s dividend payout ratio is presently 94.34%.

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.