Amcor PLC $AMCR Stock Sold by Vest Financial LLC

Vest Financial LLC cut its holdings in Amcor PLC (NYSE:AMCR) by 4.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,134,062 shares of the company’s stock after selling 47,408 shares during the period. Vest Financial LLC’s holdings in Amcor were worth $47,472,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMCR. Cantor Fitzgerald Investment Advisors L.P. boosted its holdings in Amcor by 2.5% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 254,189 shares of the company’s stock worth $10,640,000 after purchasing an additional 6,238 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Amcor by 2.3% in the third quarter. Crossmark Global Holdings Inc. now owns 18,645 shares of the company’s stock valued at $780,000 after purchasing an additional 418 shares in the last quarter. Sowell Financial Services LLC increased its stake in Amcor by 111.5% in the 3rd quarter. Sowell Financial Services LLC now owns 12,321 shares of the company’s stock valued at $516,000 after buying an additional 6,495 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Amcor by 6.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 5,320 shares of the company’s stock valued at $222,000 after buying an additional 328 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Amcor by 178.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 26,293 shares of the company’s stock valued at $1,101,000 after buying an additional 16,857 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMCR has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of Amcor from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. UBS Group assumed coverage on Amcor in a report on Tuesday, August 11th. They issued a “buy” rating and a $56.00 price objective for the company. Truist Financial set a $51.00 target price on Amcor in a research report on Tuesday, August 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $47.00 target price (up from $44.00) on shares of Amcor in a report on Monday, August 17th. Finally, Citigroup reissued a “buy” rating and set a $52.00 price target (up from $47.00) on shares of Amcor in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Amcor has a consensus rating of “Moderate Buy” and a consensus target price of $49.36.

Amcor Price Performance

NYSE:AMCR opened at $45.24 on Thursday. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 1.17. The firm has a fifty day simple moving average of $44.02 and a 200 day simple moving average of $42.37. The stock has a market capitalization of $20.92 billion, a PE ratio of 11.18, a P/E/G ratio of 2.00 and a beta of 0.58.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, August 13th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The business had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.05 billion. During the same period in the previous year, the company earned $0.20 earnings per share. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, research analysts expect that Amcor PLC will post 2.56 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Friday, September 4th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, September 4th. Amcor’s dividend payout ratio (DPR) is 110.17%.

About Amcor

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging solutions for food, beverage, pharmaceutical, medical, personal care, household, and other consumer and industrial products. Its offerings include flexible packaging, rigid containers, closures, bottles, specialty cartons, and related packaging systems designed to protect products, support supply chains, and improve convenience and sustainability.

The company serves customers across North America, Latin America, Europe, Asia-Pacific, and other international markets.