Global X Japan Co. Ltd. Reduces Stock Position in Amcor plc (NYSE:AMCR)

Global X Japan Co. Ltd. lowered its stake in Amcor plc (NYSE:AMCR) by 11.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,855 shares of the company’s stock after selling 5,392 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Amcor were worth $474,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Riverview Trust Co purchased a new stake in Amcor in the 1st quarter worth approximately $28,000. Rise Advisors LLC purchased a new stake in shares of Amcor in the third quarter worth $35,000. ORG Wealth Partners LLC bought a new stake in Amcor during the third quarter valued at $35,000. Quent Capital LLC grew its position in Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after buying an additional 1,241 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Amcor by 132.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after acquiring an additional 2,519 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AMCR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Robert W. Baird upped their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Stifel Nicolaus started coverage on Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target on the stock. Wells Fargo & Company lifted their price target on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Citigroup upped their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.78.

Amcor Stock Down 1.2 %

AMCR opened at $10.99 on Wednesday. Amcor plc has a 12 month low of $8.45 and a 12 month high of $11.48. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The business’s 50-day moving average price is $11.11 and its 200-day moving average price is $10.31. The company has a market cap of $15.88 billion, a P/E ratio of 24.42, a P/E/G ratio of 2.72 and a beta of 0.85.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, August 15th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. The business had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. On average, equities analysts expect that Amcor plc will post 0.75 EPS for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 6th were given a dividend of $0.125 per share. The ex-dividend date was Friday, September 6th. This represents a $0.50 annualized dividend and a yield of 4.55%. Amcor’s payout ratio is currently 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.