Amcor plc (NYSE:AMCR) Stock Position Lowered by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its position in shares of Amcor plc (NYSE:AMCR) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 628,128 shares of the company’s stock after selling 4,812 shares during the period. Wedge Capital Management L L P NC’s holdings in Amcor were worth $5,911,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in shares of Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after buying an additional 2,319 shares in the last quarter. Rise Advisors LLC purchased a new position in Amcor during the 3rd quarter valued at about $35,000. ORG Wealth Partners LLC acquired a new position in shares of Amcor in the 3rd quarter valued at about $35,000. True Wealth Design LLC lifted its position in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Amcor by 296.3% during the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after purchasing an additional 3,242 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMCR has been the topic of several research reports. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and upped their price objective for the company from $11.00 to $12.00 in a research note on Monday, January 6th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research note on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, Wells Fargo & Company increased their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Stock Performance

NYSE:AMCR opened at $9.71 on Friday. The firm has a market capitalization of $14.03 billion, a PE ratio of 18.31, a PEG ratio of 1.69 and a beta of 0.84. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The firm’s fifty day simple moving average is $9.89 and its 200 day simple moving average is $10.44.

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

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were given a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.26%. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, November 21st. Amcor’s dividend payout ratio is currently 96.23%.

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.