Amcor plc (NYSE:AMCR) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of Amcor plc (NYSE:AMCR) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 657,834 shares of the company’s stock after selling 47,737 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Amcor were worth $6,190,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Renasant Bank purchased a new position in shares of Amcor during the 4th quarter valued at approximately $132,000. Avantax Advisory Services Inc. increased its holdings in shares of Amcor by 14.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 19,174 shares of the company’s stock valued at $180,000 after purchasing an additional 2,440 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Amcor during the 4th quarter valued at approximately $125,000. HighTower Advisors LLC increased its holdings in shares of Amcor by 3.3% during the 4th quarter. HighTower Advisors LLC now owns 248,303 shares of the company’s stock valued at $2,337,000 after purchasing an additional 7,836 shares in the last quarter. Finally, Independent Advisor Alliance increased its holdings in shares of Amcor by 11.3% during the 4th quarter. Independent Advisor Alliance now owns 67,290 shares of the company’s stock valued at $633,000 after purchasing an additional 6,848 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMCR shares. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $12.00 in a 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 price target for the company in a report on Wednesday, December 11th. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Three research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Insiders Place Their Bets

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the director now directly owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.

Amcor Price Performance

Amcor stock opened at $9.85 on Tuesday. The company has a fifty day simple moving average of $9.91 and a 200-day simple moving average of $10.33. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $14.23 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 1.96 and a beta of 0.80. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly 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 net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the previous year, the company posted $0.09 EPS. The company’s revenue was down .3% compared to the same quarter last year. On average, equities analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

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

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.