Janney Montgomery Scott LLC Trims Position in Amcor plc (NYSE:AMCR)

Janney Montgomery Scott LLC trimmed its position in Amcor plc (NYSE:AMCR) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,080,242 shares of the company’s stock after selling 49,454 shares during the period. Janney Montgomery Scott LLC owned about 0.07% of Amcor worth $12,239,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. M&G Plc raised its holdings in 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. AQR Capital Management LLC raised its stake in shares of Amcor by 356.1% in the second quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock worth $28,659,000 after buying an additional 2,287,826 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Amcor by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock valued at $195,946,000 after buying an additional 2,086,698 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Amcor by 11.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock valued at $143,989,000 after acquiring an additional 1,527,492 shares during the period. Finally, ProShare Advisors LLC increased its holdings in 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 acquiring an additional 1,443,364 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Performance

AMCR opened at $10.20 on Thursday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.42 and a current ratio of 0.81. The stock has a market capitalization of $14.74 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 1.84 and a beta of 0.85. The company has a fifty day moving average of $11.08 and a 200 day moving average of $10.44. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. As a group, sell-side analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.00%. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s dividend payout ratio is 96.23%.

Wall Street Analysts Forecast Growth

AMCR has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Robert W. Baird upped their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Citigroup raised their price target on 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 upped their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.94.

Amcor Company 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.