Commonwealth Equity Services LLC Sells 23,787 Shares of Amcor plc (NYSE:AMCR)

Commonwealth Equity Services LLC lessened its stake in shares of Amcor plc (NYSE:AMCR) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 910,426 shares of the company’s stock after selling 23,787 shares during the period. Commonwealth Equity Services LLC owned about 0.06% of Amcor worth $8,567,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. GSA Capital Partners LLP increased its holdings in Amcor by 51.9% in the 3rd quarter. GSA Capital Partners LLP now owns 34,190 shares of the company’s stock worth $387,000 after acquiring an additional 11,685 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Amcor by 6.0% in the third quarter. Empowered Funds LLC now owns 133,379 shares of the company’s stock worth $1,511,000 after purchasing an additional 7,507 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Amcor by 24.5% in the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after purchasing an additional 124,945 shares during the period. Claro Advisors LLC purchased a new stake in shares of Amcor during the 3rd quarter valued at approximately $152,000. Finally, Thrivent Financial for Lutherans boosted its holdings in Amcor by 1.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 163,234 shares of the company’s stock worth $1,850,000 after buying an additional 3,019 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 0.8 %

AMCR stock opened at $9.85 on Thursday. The company has a market capitalization of $14.23 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The company’s 50 day moving average price is $9.92 and its two-hundred day moving average price is $10.32.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the business posted $0.09 EPS. Amcor’s quarterly revenue was down .3% compared to the same quarter last year. As a group, analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date was Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Insider Activity

In other Amcor news, Director Achal Agarwal bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the acquisition, the director now directly owns 88,967 shares in the company, valued at $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on AMCR. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a report on Wednesday, December 11th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and raised their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average 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.