Amcor plc (NYSE:AMCR) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in Amcor plc (NYSE:AMCR) by 51.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 85,833 shares of the company’s stock after selling 90,020 shares during the quarter. Intech Investment Management LLC’s holdings in Amcor were worth $972,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in AMCR. Lake Street Advisors Group LLC boosted its stake in Amcor by 8.4% during the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock worth $138,000 after purchasing an additional 946 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Amcor by 9.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock worth $132,000 after purchasing an additional 1,023 shares during the last quarter. Forum Financial Management LP boosted its stake in Amcor by 7.7% during the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock worth $167,000 after purchasing an additional 1,058 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its stake in Amcor by 6.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock worth $215,000 after purchasing an additional 1,085 shares during the last quarter. Finally, Quent Capital LLC boosted its stake in 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 purchasing an additional 1,241 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

AMCR has been the topic of several recent research reports. Robert W. Baird lifted their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. boosted their price target on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target 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. Finally, Citigroup boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Amcor currently has a consensus rating of “Hold” and a consensus target price of $10.94.

Amcor Stock Up 1.0 %

Shares of AMCR opened at $10.50 on Thursday. The firm has a market cap of $15.17 billion, a P/E ratio of 19.80, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. Amcor plc has a 12-month low of $8.78 and a 12-month high of $11.48. The company’s 50-day moving average price is $10.82 and its 200 day moving average price is $10.51. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. Amcor’s revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. On average, sell-side analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The business also recently disclosed 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 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%. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s payout ratio is 96.23%.

Amcor 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.