Amcor plc (NYSE:AMCR) Stake Reduced by First Horizon Advisors Inc.

First Horizon Advisors Inc. lessened its stake in shares of Amcor plc (NYSE:AMCR) by 28.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,889 shares of the company’s stock after selling 1,151 shares during the period. First Horizon Advisors Inc.’s holdings in Amcor were worth $27,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares in the last quarter. True Wealth Design LLC grew its stake in Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after acquiring an additional 3,225 shares in the last quarter. Covestor Ltd grew its stake in Amcor by 441.0% during the 3rd quarter. Covestor Ltd now owns 7,963 shares of the company’s stock valued at $90,000 after acquiring an additional 6,491 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Amcor in the 3rd quarter valued at approximately $97,000. Finally, Graypoint LLC bought a new stake in shares of Amcor in the 4th quarter valued at approximately $97,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Amcor Stock Up 0.4 %

Shares of AMCR stock opened at $10.11 on Friday. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48. The firm has a market cap of $14.61 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84. The stock has a 50 day moving average of $9.78 and a 200-day moving average of $10.41. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the company earned $0.09 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.05%. Amcor’s dividend payout ratio (DPR) is presently 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.