Amcor plc (NYSE:AMCR) Shares Sold by Alan B Lancz & Associates Inc.

Alan B Lancz & Associates Inc. lessened its stake in Amcor plc (NYSE:AMCR) by 11.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 30,089 shares of the company’s stock after selling 4,080 shares during the period. Alan B Lancz & Associates Inc.’s holdings in Amcor were worth $283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its stake in shares of Amcor by 3,410.3% in 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 purchased a new stake in Amcor during the third quarter worth about $35,000. True Wealth Design LLC increased its stake in Amcor by 3,794.1% during 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 during the period. Finally, Signaturefd LLC lifted its position 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 in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Down 0.2 %

Shares of NYSE AMCR opened at $9.75 on Friday. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The company has a market capitalization of $14.09 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The business has a 50-day moving average of $9.84 and a two-hundred day moving average of $10.44.

Amcor (NYSE:AMCR) last posted its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The firm 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 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year. On average, analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.23%. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is 96.23%.

Wall Street Analyst Weigh In

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

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.