Sanctuary Advisors LLC Purchases 3,559 Shares of Amcor plc (NYSE:AMCR)

Sanctuary Advisors LLC increased its position in shares of Amcor plc (NYSE:AMCR) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,132 shares of the company’s stock after buying an additional 3,559 shares during the period. Sanctuary Advisors LLC’s holdings in Amcor were worth $557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMCR. Larson Financial Group LLC increased its stake in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after purchasing an additional 2,319 shares during the last quarter. Rise Advisors LLC acquired a new position in Amcor during the third quarter worth approximately $35,000. ORG Wealth Partners LLC bought a new stake in Amcor in the third quarter valued at approximately $35,000. True Wealth Design LLC lifted its position in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Amcor by 296.3% during the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after acquiring an additional 3,242 shares during the period. 45.14% of the stock is owned by institutional investors.

Amcor Stock Performance

NYSE AMCR opened at $9.49 on Thursday. Amcor plc has a 12-month low of $8.78 and a 12-month high of $11.48. The firm has a 50-day moving average price of $10.37 and a two-hundred day moving average price of $10.50. The company has a market capitalization of $13.72 billion, a P/E ratio of 17.91, a P/E/G ratio of 1.80 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the company posted $0.16 earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. Analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were given a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.37%. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is presently 96.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company increased their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a report on Wednesday, December 11th. Finally, UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.20.

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.