Mizuho Markets Americas LLC Sells 132,352 Shares of Amcor plc (NYSE:AMCR)

Mizuho Markets Americas LLC decreased its holdings in Amcor plc (NYSE:AMCR) by 19.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 559,525 shares of the company’s stock after selling 132,352 shares during the period. Mizuho Markets Americas LLC’s holdings in Amcor were worth $6,339,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Rise Advisors LLC purchased a new position in Amcor in the third quarter worth about $35,000. ORG Wealth Partners LLC purchased a new stake in shares of Amcor in the 3rd quarter worth $35,000. Quent Capital LLC raised its holdings in Amcor by 51.8% in 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 period. EverSource Wealth Advisors LLC lifted its position in Amcor by 132.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after purchasing an additional 2,519 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Amcor by 38.7% in the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after buying an additional 1,299 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Amcor stock opened at $10.22 on Friday. The firm has a market capitalization of $14.77 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.82 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 firm has a 50-day moving average price of $10.92 and a 200-day moving average price of $10.49. 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 posted its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business earned $0.16 EPS. Amcor’s revenue was down 2.6% compared to the same quarter last year. As a group, equities research analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 4.99%. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is presently 94.34%.

Analyst Upgrades and Downgrades

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

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.