Amcor plc (NYSE:AMCR) Stake Increased by IFP Advisors Inc

IFP Advisors Inc increased its stake in Amcor plc (NYSE:AMCR) by 38.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,910 shares of the company’s stock after buying an additional 4,127 shares during the period. IFP Advisors Inc’s holdings in Amcor were worth $174,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Amcor in the second quarter worth $31,000. Berman Capital Advisors LLC increased its stake in Amcor by 363.9% during the second quarter. Berman Capital Advisors LLC now owns 3,210 shares of the company’s stock valued at $36,000 after purchasing an additional 2,518 shares during the last quarter. Liberty Wealth Management LLC increased its stake in Amcor by 1,053.8% during the second quarter. Liberty Wealth Management LLC now owns 3,346 shares of the company’s stock valued at $292,000 after purchasing an additional 3,056 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in Amcor by 441.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 3,894 shares of the company’s stock valued at $45,000 after purchasing an additional 3,175 shares during the last quarter. Finally, Tradition Wealth Management LLC bought a new stake in Amcor during the second quarter valued at $46,000. Institutional investors and hedge funds own 38.54% of the company’s stock.

Shares of AMCR opened at $11.66 on Thursday. Amcor plc has a 1 year low of $10.33 and a 1 year high of $12.92. The company has a market cap of $17.88 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 2.08 and a beta of 0.90. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.79 and a current ratio of 1.31. The firm has a fifty day moving average of $11.96 and a 200-day moving average of $11.95.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, November 2nd. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Amcor had a net margin of 7.15% and a return on equity of 24.50%. During the same period in the prior year, the company earned $0.16 earnings per share. Analysts predict that Amcor plc will post 0.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 14th. Investors of record on Wednesday, November 24th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, November 23rd. This represents a $0.48 annualized dividend and a yield of 4.12%. This is an increase from Amcor’s previous quarterly dividend of $0.12. Amcor’s dividend payout ratio is presently 78.33%.

Several analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Amcor from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Friday, November 5th. Jefferies Financial Group lowered shares of Amcor from a “hold” rating to an “underperform” rating and set a $15.00 target price for the company. in a research note on Tuesday, September 7th. The Goldman Sachs Group lowered shares of Amcor from a “neutral” rating to a “sell” rating and lowered their target price for the company from $12.00 to $11.50 in a research note on Wednesday, August 18th. Finally, TheStreet upgraded shares of Amcor from a “c-” rating to a “b” rating in a research note on Wednesday, October 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.92.

In other Amcor news, insider Michael J. Zacka sold 147,736 shares of the business’s stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $12.02, for a total value of $1,775,786.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Eric V. Roegner sold 303,000 shares of the business’s stock in a transaction dated Wednesday, September 8th. The stock was sold at an average price of $12.30, for a total transaction of $3,726,900.00. The disclosure for this sale can be found here. Insiders sold 459,300 shares of company stock valued at $5,611,107 in the last ninety days. Corporate insiders own 0.39% of the company’s stock.

Amcor Company Profile

Amcor Plc operates as a holding company, which engages in the provision of consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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