Sigma Planning Corp Decreases Stock Holdings in Amcor plc (NYSE:AMCR)

Sigma Planning Corp cut its stake in Amcor plc (NYSE:AMCR) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,944 shares of the company’s stock after selling 4,089 shares during the period. Sigma Planning Corp’s holdings in Amcor were worth $310,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Private Advisor Group LLC acquired a new position in shares of Amcor during the 3rd quarter worth $139,000. International Assets Investment Management LLC purchased a new position in Amcor during the 3rd quarter valued at about $3,860,000. Assenagon Asset Management S.A. raised its position in Amcor by 14.3% during the third quarter. Assenagon Asset Management S.A. now owns 42,076 shares of the company’s stock worth $477,000 after acquiring an additional 5,272 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Amcor by 6.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 440,391 shares of the company’s stock worth $4,990,000 after acquiring an additional 25,827 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Amcor by 9.8% in the third quarter. Nisa Investment Advisors LLC now owns 160,498 shares of the company’s stock valued at $1,818,000 after purchasing an additional 14,360 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMCR has been the subject of several research reports. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. 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 research report on Wednesday, December 11th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Amcor Trading Up 0.4 %

Shares of AMCR stock opened at $10.11 on Friday. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The firm’s 50-day simple moving average is $9.78 and its 200-day simple moving average is $10.41. The firm has a market cap of $14.61 billion, a P/E ratio of 18.37, a PEG ratio of 1.96 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71.

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

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Wednesday, February 26th. Amcor’s dividend payout ratio is currently 92.73%.

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.