Amcor plc (NYSE:AMCR) Shares Sold by Sei Investments Co.

Sei Investments Co. lessened its stake in shares of Amcor plc (NYSE:AMCR) by 53.9% in the second quarter, HoldingsChannel reports. The firm owned 532,427 shares of the company’s stock after selling 623,324 shares during the quarter. Sei Investments Co.’s holdings in Amcor were worth $5,207,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AMCR. Riverview Trust Co acquired a new position in Amcor in the 1st quarter valued at $28,000. Quent Capital LLC grew its position in shares of Amcor by 51.8% in the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after purchasing an additional 1,241 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of 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 purchasing an additional 2,519 shares during the period. UMB Bank n.a. increased its stake in Amcor by 38.7% in 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 purchased a new position in Amcor during the second quarter worth about $47,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

AMCR opened at $11.33 on Wednesday. The company has a 50 day moving average of $10.89 and a two-hundred day moving average of $10.12. Amcor plc has a 52-week low of $8.45 and a 52-week high of $11.48. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. The company has a market cap of $16.38 billion, a P/E ratio of 25.18, a P/E/G ratio of 2.73 and a beta of 0.85.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Thursday, August 15th. The company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.19 earnings per share. On average, analysts expect that Amcor plc will post 0.75 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.41%. The ex-dividend date was Friday, September 6th. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Analyst Upgrades and Downgrades

Several analysts have commented on AMCR shares. Wells Fargo & Company lifted their price target on Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a report on Friday, August 16th. Robert W. Baird upped 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 Friday, August 16th. JPMorgan Chase & Co. increased their price target on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Stifel Nicolaus assumed coverage on shares of Amcor in a research note on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective for the company. Finally, Citigroup lifted their target price on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a 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 stock. According to 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.