Wilmington Savings Fund Society FSB Sells 19,782 Shares of Amcor plc (NYSE:AMCR)

Wilmington Savings Fund Society FSB reduced its holdings in shares of Amcor plc (NYSE:AMCR) by 41.1% in the third quarter, Holdings Channel.com reports. The fund owned 28,362 shares of the company’s stock after selling 19,782 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Amcor were worth $321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMCR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Amcor by 275.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after acquiring an additional 4,851,222 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Amcor by 39,411.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock worth $31,855,000 after acquiring an additional 2,804,484 shares during the last quarter. M&G PLC lifted its stake in shares of 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 acquiring an additional 2,775,794 shares during the last quarter. AQR Capital Management LLC increased its holdings in Amcor by 356.1% during the 2nd quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock worth $28,659,000 after purchasing an additional 2,287,826 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Amcor by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock worth $489,348,000 after purchasing an additional 1,960,308 shares during the period. 45.14% of the stock is owned by institutional investors.

Amcor Stock Down 1.2 %

Amcor stock opened at $9.73 on Wednesday. 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 stock has a market capitalization of $14.06 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 1.80 and a beta of 0.82. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The business has a fifty day moving average price of $10.54 and a 200-day moving average price of $10.53.

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

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were given a dividend of $0.1275 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 5.24%. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is currently 96.23%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Citigroup raised their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a report on Wednesday, December 11th. Finally, Wells Fargo & Company raised their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.20.

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.