USA Financial Formulas Trims Stock Holdings in Amcor plc (NYSE:AMCR)

USA Financial Formulas cut its holdings in shares of Amcor plc (NYSE:AMCR) by 7.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,004 shares of the company’s stock after selling 1,754 shares during the period. USA Financial Formulas’ holdings in Amcor were worth $261,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Riverview Trust Co purchased a new stake in Amcor during the 1st quarter valued at approximately $28,000. Quent Capital LLC boosted its holdings in Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after purchasing an additional 1,241 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Amcor by 132.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after buying an additional 2,519 shares in the last quarter. UMB Bank n.a. grew its holdings in Amcor by 38.7% during the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after acquiring an additional 1,299 shares during the period. Finally, ORG Partners LLC purchased a new position in Amcor in the second quarter worth $47,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Up 0.5 %

Shares of NYSE:AMCR opened at $11.11 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The firm has a market cap of $16.05 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 2.73 and a beta of 0.85. The stock’s 50-day moving average price is $10.98 and its two-hundred day moving average price is $10.19. Amcor plc has a 12-month low of $8.45 and a 12-month high of $11.48.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the company posted $0.19 EPS. On average, research analysts forecast that Amcor plc will post 0.75 EPS for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend was Friday, September 6th. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Wall Street Analysts Forecast Growth

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

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.