Verus Capital Partners LLC Sells 1,207 Shares of Amcor plc (NYSE:AMCR)

Verus Capital Partners LLC reduced its holdings in shares of Amcor plc (NYSE:AMCR) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,766 shares of the company’s stock after selling 1,207 shares during the period. Verus Capital Partners LLC’s holdings in Amcor were worth $111,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC grew its position in Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares during the period. Covestor Ltd boosted its stake in shares of Amcor by 441.0% during the third quarter. Covestor Ltd now owns 7,963 shares of the company’s stock valued at $90,000 after purchasing an additional 6,491 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Amcor during the third quarter valued at approximately $97,000. Finally, Graypoint LLC purchased a new stake in shares of Amcor during the fourth quarter valued at approximately $97,000. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Performance

Shares of AMCR stock opened at $10.11 on Friday. The stock has a fifty day moving average of $9.78 and a 200 day moving average of $10.41. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The firm has a market capitalization of $14.61 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.96 and a beta of 0.84. 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 (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 earnings per share. As a group, research analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio is currently 92.73%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research note on Wednesday, December 11th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

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.