First Horizon Advisors Inc. Has $46,000 Holdings in Amcor plc (NYSE:AMCR)

First Horizon Advisors Inc. trimmed its holdings in shares of Amcor plc (NYSE:AMCR) by 25.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,040 shares of the company’s stock after selling 1,384 shares during the period. First Horizon Advisors Inc.’s holdings in Amcor were worth $46,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AMCR. West Family Investments Inc. acquired a new stake in shares of Amcor in the third quarter valued at $132,000. Thrivent Financial for Lutherans grew its holdings in Amcor by 1.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 163,234 shares of the company’s stock worth $1,850,000 after acquiring an additional 3,019 shares during the last quarter. Claro Advisors LLC acquired a new stake in Amcor in the 3rd quarter valued at about $152,000. Atlanta Consulting Group Advisors LLC bought a new position in shares of Amcor in the third quarter worth about $399,000. Finally, Natixis Advisors LLC lifted its position in shares of Amcor by 24.5% during the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock worth $7,190,000 after purchasing an additional 124,945 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMCR. Robert W. Baird raised their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Citigroup boosted their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Wells Fargo & Company raised their price target on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. boosted their price objective on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Amcor has an average rating of “Hold” and an average price target of $10.94.

Amcor Stock Up 0.2 %

Shares of Amcor stock opened at $10.49 on Monday. The business has a fifty day simple moving average of $10.85 and a 200 day simple moving average of $10.51. The stock has a market cap of $15.16 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. 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 plc has a 12 month low of $8.78 and a 12 month high of $11.48.

Amcor (NYSE:AMCR) last posted 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 during the quarter, compared to analyst estimates of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 EPS. Research analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders 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 annualized dividend and a yield of 4.86%. Amcor’s dividend payout ratio (DPR) is 96.23%.

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.