Amcor plc (NYSE:AMCR) Holdings Reduced by Raymond James Trust N.A.

Raymond James Trust N.A. lessened its holdings in shares of Amcor plc (NYSE:AMCR) by 15.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 38,719 shares of the company’s stock after selling 7,197 shares during the quarter. Raymond James Trust N.A.’s holdings in Amcor were worth $439,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. M&G Plc boosted its position in Amcor by 2,741.7% during the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after acquiring an additional 45,504,608 shares during the period. SteelPeak Wealth LLC acquired a new stake in Amcor in the second quarter worth about $781,000. Cardinal Capital Management grew its position in Amcor by 832.2% in the 2nd quarter. Cardinal Capital Management now owns 115,616 shares of the company’s stock valued at $1,131,000 after buying an additional 103,213 shares in the last quarter. Natixis Advisors LLC increased its stake in Amcor by 24.5% during the 3rd quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after buying an additional 124,945 shares during the period. Finally, Dimensional Fund Advisors LP raised its position 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 worth $143,989,000 after buying an additional 1,527,492 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.39 on Wednesday. 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 market capitalization of $15.01 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The stock has a fifty day moving average of $10.83 and a 200-day moving average of $10.51. Amcor plc has a one year low of $8.78 and a one year high of $11.48.

Amcor (NYSE:AMCR) last released its quarterly 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 business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. Amcor’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.16 EPS. As a group, equities analysts anticipate that Amcor plc will post 0.74 EPS 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 given a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 4.91%. 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 (DPR) is 96.23%.

Analysts Set New Price Targets

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

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.