Amcor plc (NYSE:AMCR) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its position in Amcor plc (NYSE:AMCR) by 2.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,100,612 shares of the company’s stock after selling 23,522 shares during the period. Bank of Montreal Can’s holdings in Amcor were worth $12,492,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Larson Financial Group LLC boosted its stake in Amcor by 3,410.3% in 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 in the last quarter. Rise Advisors LLC purchased a new position in shares of Amcor in the third quarter worth $35,000. ORG Wealth Partners LLC acquired a new stake in shares of Amcor during the third quarter worth $35,000. Quent Capital LLC grew its holdings in shares of Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after buying an additional 1,241 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Amcor by 132.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after acquiring an additional 2,519 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Performance

Shares of NYSE:AMCR opened at $10.64 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The firm has a market capitalization of $15.38 billion, a PE ratio of 20.08, a P/E/G ratio of 1.92 and a beta of 0.85. The business’s 50 day moving average price is $10.80 and its 200-day moving average price is $10.51.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 EPS. As a group, equities research analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The business also recently declared 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. This represents a $0.51 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is currently 96.23%.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMCR. Robert W. Baird lifted their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their target price on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Citigroup raised their price target 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. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company raised their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.