Guardian Wealth Advisors LLC Lowers Stake in Amcor plc (NYSE:AMCR)

Guardian Wealth Advisors LLC reduced its position in Amcor plc (NYSE:AMCR) by 16.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,039 shares of the company’s stock after selling 2,800 shares during the period. Guardian Wealth Advisors LLC’s holdings in Amcor were worth $159,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Lake Street Advisors Group LLC lifted its holdings in Amcor by 8.4% in the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock valued at $138,000 after purchasing an additional 946 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Amcor by 9.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock valued at $132,000 after acquiring an additional 1,023 shares during the period. Forum Financial Management LP increased its position in Amcor by 7.7% during the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock worth $167,000 after purchasing an additional 1,058 shares during the period. Prime Capital Investment Advisors LLC boosted its position in shares of Amcor by 6.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock worth $215,000 after buying an additional 1,085 shares in the last quarter. Finally, Quent Capital LLC boosted its position in Amcor by 51.8% during 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. 45.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AMCR shares. Robert W. Baird upped their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Wells Fargo & Company lifted their price target on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. increased their target price on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Finally, Citigroup increased their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.94.

Amcor Stock Performance

Shares of NYSE AMCR opened at $10.16 on Tuesday. Amcor plc has a one year low of $8.78 and a one year high of $11.48. The firm has a market cap of $14.68 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 1.84 and a beta of 0.85. The stock’s fifty day moving average price is $10.90 and its two-hundred day moving average price is $10.50. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.16 earnings per share. On average, equities analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be given a dividend of $0.1275 per share. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.51 annualized dividend and a dividend yield of 5.02%. Amcor’s dividend payout ratio is presently 94.34%.

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.