CIBC Asset Management Inc Decreases Stake in Amcor plc (NYSE:AMCR)

CIBC Asset Management Inc lessened its holdings in shares of Amcor plc (NYSE:AMCR) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 346,646 shares of the company’s stock after selling 26,079 shares during the quarter. CIBC Asset Management Inc’s holdings in Amcor were worth $3,927,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AMCR. Lifeworks Advisors LLC boosted its position in Amcor by 29.4% during the third quarter. Lifeworks Advisors LLC now owns 364,999 shares of the company’s stock worth $4,135,000 after acquiring an additional 82,854 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Amcor by 30.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 34,759 shares of the company’s stock worth $394,000 after purchasing an additional 8,078 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of Amcor by 21.9% during the 3rd quarter. Metis Global Partners LLC now owns 131,308 shares of the company’s stock worth $1,488,000 after purchasing an additional 23,620 shares during the last quarter. KBC Group NV grew its position in shares of Amcor by 94.8% in the third quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock valued at $33,312,000 after purchasing an additional 1,430,545 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC increased its holdings in shares of Amcor by 6.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock valued at $215,000 after purchasing an additional 1,085 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Down 0.6 %

NYSE:AMCR opened at $10.16 on Tuesday. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The stock’s fifty day moving average is $10.90 and its two-hundred day moving average is $10.50. The stock has a market capitalization of $14.68 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. Amcor’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the business posted $0.16 EPS. Research analysts anticipate that Amcor plc will post 0.74 EPS for the current 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 issued 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 dividend on an annualized basis and a yield of 5.02%. Amcor’s dividend payout ratio (DPR) is 96.23%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AMCR shares. Wells Fargo & Company upped their target price on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Citigroup raised 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. Robert W. Baird lifted their target price on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price target on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Amcor currently has a consensus rating of “Hold” and a consensus price target 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.