Prospera Private Wealth LLC Cuts Position in Amcor plc (NYSE:AMCR)

Prospera Private Wealth LLC lessened its stake in Amcor plc (NYSE:AMCR) by 16.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,266 shares of the company’s stock after selling 7,098 shares during the quarter. Prospera Private Wealth LLC’s holdings in Amcor were worth $400,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised 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. M&G PLC raised its holdings in shares of Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after purchasing an additional 2,775,794 shares during the period. M&G Plc raised its holdings in shares of Amcor by 2,741.7% in the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after purchasing an additional 45,504,608 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Amcor by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock worth $195,946,000 after purchasing an additional 2,086,698 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Amcor by 7.8% in the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock worth $194,783,000 after purchasing an additional 1,443,364 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 4.5 %

AMCR opened at $10.34 on Thursday. The company has a fifty day moving average price of $10.87 and a 200-day moving average price of $10.50. The firm has a market capitalization of $14.94 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. 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 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business earned $0.16 EPS. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. Equities research analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be given a $0.1275 dividend. The ex-dividend date is Thursday, November 21st. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 4.93%. Amcor’s payout ratio is 94.34%.

Wall Street Analysts Forecast Growth

AMCR has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. 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 report on Friday, August 16th. Citigroup boosted their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company boosted their target price 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. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.94.

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.