CANADA LIFE ASSURANCE Co Sells 143,357 Shares of Amcor plc (NYSE:AMCR)

CANADA LIFE ASSURANCE Co lowered its stake in Amcor plc (NYSE:AMCR) by 9.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,301,009 shares of the company’s stock after selling 143,357 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.09% of Amcor worth $12,373,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new stake in shares of Amcor during the fourth quarter worth about $155,438,000. Norges Bank purchased a new position in shares of Amcor in the 4th quarter worth approximately $47,669,000. M&G Plc purchased a new position in shares of Amcor in the 1st quarter worth approximately $16,598,000. Vanguard Group Inc. boosted its holdings in shares of Amcor by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after purchasing an additional 1,170,986 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Amcor by 236.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,648,279 shares of the company’s stock worth $15,675,000 after purchasing an additional 1,157,878 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 0.7 %

NYSE AMCR traded up $0.07 on Thursday, reaching $10.15. 7,509,858 shares of the stock traded hands, compared to its average volume of 8,783,208. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29. The company has a fifty day moving average price of $9.95 and a 200-day moving average price of $9.58. The company has a market cap of $14.67 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 4.45 and a beta of 0.86. Amcor plc has a 12 month low of $8.45 and a 12 month high of $10.51.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.49 billion. Amcor had a return on equity of 24.66% and a net margin of 4.75%. Amcor’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS. As a group, research analysts forecast that Amcor plc will post 0.7 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 4.93%. The ex-dividend date was Tuesday, May 21st. Amcor’s payout ratio is 111.11%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Wells Fargo & Company started coverage on Amcor in a report on Friday, June 28th. They issued an “equal weight” rating and a $9.80 target price for the company. Finally, Stifel Nicolaus started coverage on Amcor in a research note on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target for the company. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.15.

About Amcor

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.