Federated Hermes Inc. Cuts Stock Holdings in Amcor plc (NYSE:AMCR)

Federated Hermes Inc. lowered its position in Amcor plc (NYSE:AMCR) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,878,776 shares of the company’s stock after selling 1,187,198 shares during the period. Federated Hermes Inc. owned about 1.65% of Amcor worth $233,534,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AMCR. Victory Capital Management Inc. lifted its stake in shares of Amcor by 279.3% during the 4th quarter. Victory Capital Management Inc. now owns 445,112 shares of the company’s stock valued at $4,291,000 after buying an additional 327,759 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Amcor during the 4th quarter valued at $108,000. Principal Securities Inc. purchased a new position in shares of Amcor during the 4th quarter valued at $86,000. Dimensional Fund Advisors LP increased its holdings in shares of Amcor by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,730,444 shares of the company’s stock worth $122,735,000 after purchasing an additional 1,101,845 shares during the period. Finally, Ieq Capital LLC raised its position in shares of Amcor by 73.3% in the fourth quarter. Ieq Capital LLC now owns 39,000 shares of the company’s stock worth $376,000 after buying an additional 16,501 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AMCR shares. Robert W. Baird boosted their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Citigroup boosted their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. raised their target price on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Wells Fargo & Company boosted their price target on shares of Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. Finally, Stifel Nicolaus assumed coverage on shares of Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Amcor has an average rating of “Hold” and a consensus price target of $10.73.

Amcor Stock Performance

NYSE:AMCR opened at $10.89 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. The firm’s fifty day simple moving average is $10.57 and its 200 day simple moving average is $9.93. The stock has a market cap of $15.73 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85. Amcor plc has a twelve month low of $8.45 and a twelve month high of $11.45.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company posted $0.19 earnings per share. The firm’s revenue was down 3.8% on a year-over-year basis. As a group, research analysts predict that Amcor plc will post 0.75 EPS for the current year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Friday, September 6th. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

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.