Amcor plc (NYSE:AMCR) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers decreased its stake in shares of Amcor plc (NYSE:AMCR) by 8.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 379,786 shares of the company’s stock after selling 32,836 shares during the quarter. Cetera Investment Advisers’ holdings in Amcor were worth $3,714,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AMCR. Riverview Trust Co purchased a new position in Amcor during the first quarter worth $28,000. Quent Capital LLC increased its position in shares of Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after acquiring an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Amcor by 132.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after buying an additional 2,519 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Amcor by 38.7% during the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after purchasing an additional 1,299 shares during the last quarter. Finally, ORG Partners LLC bought a new position in shares of Amcor during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE:AMCR opened at $11.11 on Friday. The firm has a 50 day simple moving average of $10.98 and a 200 day simple moving average of $10.19. The company has a market cap of $16.05 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 2.73 and a beta of 0.85. Amcor plc has a one year low of $8.45 and a one year high of $11.48. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, August 15th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. The business had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the company posted $0.19 earnings per share. Research analysts predict that Amcor plc will post 0.75 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.50 annualized dividend and a yield of 4.50%. Amcor’s dividend payout ratio is currently 111.11%.

Analysts Set New Price Targets

AMCR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Robert W. Baird raised their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Stifel Nicolaus initiated coverage on Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 target price on the stock. Wells Fargo & Company lifted their target price on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research note on Friday, August 16th. Finally, Citigroup boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Amcor has a consensus rating of “Hold” and an average price target of $10.73.

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.