Amcor plc (NYSE:AMCR) Shares Sold by Northeast Investment Management

Northeast Investment Management decreased its holdings in shares of Amcor plc (NYSE:AMCR) by 3.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 295,850 shares of the company’s stock after selling 11,000 shares during the quarter. Northeast Investment Management’s holdings in Amcor were worth $2,893,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Riverview Trust Co bought a new stake in Amcor in the first quarter valued at about $28,000. Quent Capital LLC increased its stake in shares of Amcor by 51.8% in the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after acquiring an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Amcor by 132.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after buying an additional 2,519 shares during the last quarter. ORG Partners LLC bought a new stake in Amcor during the second quarter valued at about $47,000. Finally, Eagle Bay Advisors LLC boosted its holdings in Amcor by 55.5% during the fourth quarter. Eagle Bay Advisors LLC now owns 7,787 shares of the company’s stock valued at $75,000 after acquiring an additional 2,779 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AMCR shares. Stifel Nicolaus began coverage on shares of Amcor in a report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price target for the company. Robert W. Baird boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Citigroup lifted their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Wells Fargo & Company upped their price target on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.73.

Amcor Trading Up 0.7 %

NYSE AMCR traded up $0.08 during trading on Wednesday, hitting $11.24. The company had a trading volume of 4,664,612 shares, compared to its average volume of 9,218,081. The company has a current ratio of 1.29, a quick ratio of 0.75 and a debt-to-equity ratio of 1.76. Amcor plc has a one year low of $8.45 and a one year high of $11.30. The company has a market cap of $16.25 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 4.64 and a beta of 0.86. The company’s fifty day moving average is $10.24 and its 200-day moving average is $9.77.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. The firm had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $1.30 billion. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 EPS. On average, sell-side analysts predict that Amcor plc will post 0.7 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 6th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.45%. The ex-dividend date is Thursday, September 5th. Amcor’s dividend payout ratio is presently 111.11%.

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.