AGF Management Ltd. Sells 12,590 Shares of Amcor plc (NYSE:AMCR)

AGF Management Ltd. lessened its holdings in Amcor plc (NYSE:AMCR) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 236,965 shares of the company’s stock after selling 12,590 shares during the quarter. AGF Management Ltd.’s holdings in Amcor were worth $2,318,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Riverview Trust Co bought a new position in shares of Amcor during the 1st quarter worth $28,000. Quent Capital LLC grew its position in shares of Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after buying an additional 1,241 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after buying an additional 2,519 shares in the last quarter. UMB Bank n.a. grew its position in shares of Amcor by 38.7% during the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after buying an additional 1,299 shares in the last quarter. Finally, ORG Partners LLC bought a new position in shares of Amcor during the 2nd quarter worth $47,000. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of AMCR stock opened at $10.99 on Friday. The stock’s 50-day moving average is $10.60 and its 200 day moving average is $9.95. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69. Amcor plc has a 1-year low of $8.45 and a 1-year high of $11.45. The company has a market cap of $15.88 billion, a P/E ratio of 24.42, a PEG ratio of 2.68 and a beta of 0.85.

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

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Friday, September 6th. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AMCR shares. Citigroup increased their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price objective on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Robert W. Baird raised their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Wells Fargo & Company raised their price objective on Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research report on Friday, August 16th. Finally, Stifel Nicolaus initiated coverage on Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective on the stock. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.73.

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.