Lester Murray Antman dba SimplyRich Sells 7,867 Shares of Amcor plc (NYSE:AMCR)

Lester Murray Antman dba SimplyRich cut its position in shares of Amcor plc (NYSE:AMCR) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,450 shares of the company’s stock after selling 7,867 shares during the period. Lester Murray Antman dba SimplyRich’s holdings in Amcor were worth $540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lake Street Advisors Group LLC lifted its holdings in Amcor by 8.4% during the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock valued at $138,000 after purchasing an additional 946 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Amcor by 9.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock worth $132,000 after buying an additional 1,023 shares during the last quarter. Forum Financial Management LP lifted its stake in shares of Amcor by 7.7% during the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock worth $167,000 after buying an additional 1,058 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in shares of Amcor by 6.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock worth $215,000 after buying an additional 1,085 shares during the period. Finally, CWA Asset Management Group LLC grew its stake in Amcor by 3.9% in the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock valued at $304,000 after buying an additional 1,213 shares during the last quarter. 45.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on AMCR shares. Wells Fargo & Company raised their price objective on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a report on Wednesday, December 11th. Finally, Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and upped their price target for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Down 0.2 %

Shares of NYSE AMCR opened at $10.02 on Wednesday. The stock has a market capitalization of $14.48 billion, a P/E ratio of 18.21, a PEG ratio of 1.92 and a beta of 0.84. The stock’s fifty day moving average is $9.73 and its 200 day moving average is $10.44. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.26.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the firm earned $0.09 EPS. Sell-side analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.09%. Amcor’s dividend payout ratio is currently 92.73%.

About Amcor

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.