Linden Thomas Advisory Services LLC Reduces Stake in Amcor plc (NYSE:AMCR)

Linden Thomas Advisory Services LLC cut its stake in shares of Amcor plc (NYSE:AMCR) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 129,860 shares of the company’s stock after selling 3,112 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Amcor were worth $1,222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Lake Street Advisors Group LLC increased its position in shares of Amcor by 8.4% during the third quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock worth $138,000 after acquiring an additional 946 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of Amcor by 9.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock worth $132,000 after acquiring an additional 1,023 shares during the period. Forum Financial Management LP increased its position in shares of Amcor by 7.7% during the third quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock worth $167,000 after acquiring an additional 1,058 shares during the period. Prime Capital Investment Advisors LLC increased its position in shares of Amcor by 6.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock worth $215,000 after acquiring an additional 1,085 shares during the period. Finally, CWA Asset Management Group LLC increased its position in shares of Amcor by 3.9% during the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock worth $304,000 after acquiring an additional 1,213 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Trading Down 0.2 %

NYSE AMCR opened at $9.75 on Friday. The stock has a market capitalization of $14.09 billion, a P/E ratio of 18.39, a P/E/G ratio of 1.86 and a beta of 0.84. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48. The firm has a 50-day moving average price of $9.84 and a 200 day moving average price of $10.44. 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 posted its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 net margin of 5.68% and a return on equity of 25.60%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share. Equities research analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were issued a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a yield of 5.23%. Amcor’s dividend payout ratio (DPR) is 96.23%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMCR. Wells Fargo & Company upped their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and upped their price objective 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, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.46.

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.