Pathstone Holdings LLC Cuts Stock Position in Amcor plc (NYSE:AMCR)

Pathstone Holdings LLC decreased its position in shares of Amcor plc (NYSE:AMCR) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,263,914 shares of the company’s stock after selling 57,074 shares during the period. Pathstone Holdings LLC owned about 0.09% of Amcor worth $14,320,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AMCR. M&G Plc increased its position in shares of Amcor by 2,741.7% during the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after acquiring an additional 45,504,608 shares during the period. M&G PLC increased its holdings in Amcor by 5.9% during the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after purchasing an additional 2,775,794 shares during the period. AQR Capital Management LLC raised its position in Amcor by 356.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock valued at $28,659,000 after purchasing an additional 2,287,826 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Amcor by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock valued at $195,946,000 after buying an additional 2,086,698 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Amcor by 11.6% during the second quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock worth $143,989,000 after buying an additional 1,527,492 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Stock Performance

Shares of AMCR opened at $9.89 on Wednesday. The company has a market capitalization of $14.29 billion, a PE ratio of 18.66, a P/E/G ratio of 1.84 and a beta of 0.85. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48. The company has a 50-day simple moving average of $10.88 and a 200-day simple moving average of $10.50. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.16 EPS. Equities research analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be given a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a dividend yield of 5.16%. Amcor’s payout ratio is currently 94.34%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. 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 report on Tuesday, August 13th. Wells Fargo & Company boosted their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Robert W. Baird raised their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Finally, Citigroup upped their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Amcor currently has an average rating of “Hold” and an average target price of $10.94.

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.