Commonwealth Equity Services LLC Sells 23,787 Shares of Amcor plc (NYSE:AMCR)

Commonwealth Equity Services LLC decreased its position in shares of Amcor plc (NYSE:AMCR) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 910,426 shares of the company’s stock after selling 23,787 shares during the period. Commonwealth Equity Services LLC’s holdings in Amcor were worth $8,567,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC grew its stake in Amcor by 3,410.3% in the third 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 during the period. True Wealth Design LLC boosted its holdings in shares of Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after buying an additional 2,660 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Amcor in the 4th quarter worth about $44,000. Finally, SBI Securities Co. Ltd. purchased a new position in Amcor during the 4th quarter valued at about $60,000. Institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 0.8 %

Amcor stock opened at $9.85 on Thursday. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The business’s fifty day moving average is $9.92 and its 200 day moving average is $10.32. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The stock has a market capitalization of $14.23 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 earnings per share. On average, sell-side analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.18%. Amcor’s dividend payout ratio is presently 92.73%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AMCR shares. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Insider Activity

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $10.10 per share, with a total value of $101,000.00. Following the transaction, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company’s stock.

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.