Amcor plc (NYSE:AMCR) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its stake in shares of Amcor plc (NYSE:AMCR) by 24.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,240 shares of the company’s stock after selling 34,347 shares during the period. Pacer Advisors Inc.’s holdings in Amcor were worth $1,019,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Riverview Trust Co purchased a new stake in Amcor in the 1st quarter worth approximately $28,000. Quent Capital LLC boosted its holdings in Amcor by 51.8% during the second 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 boosted its holdings in Amcor by 132.8% during the first 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. increased its holdings 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 buying an additional 1,299 shares in the last quarter. Finally, ORG Partners LLC acquired a new position in shares of Amcor in the second quarter worth about $47,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Price Performance

AMCR stock opened at $11.35 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The firm has a 50-day moving average of $10.84 and a two-hundred day moving average of $10.08. Amcor plc has a 12 month low of $8.45 and a 12 month high of $11.48. The company has a market cap of $16.40 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 2.73 and a beta of 0.85.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, August 15th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The firm had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter 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. As a group, analysts forecast that Amcor plc will post 0.75 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed 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 of this dividend was Friday, September 6th. Amcor’s payout ratio is currently 111.11%.

Analyst Upgrades and Downgrades

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