Amcor PLC $AMCR Stock Holdings Reduced by Diversify Advisory Services LLC

Key Points

• Diversify Advisory Services cut its Amcor stake by 69.6% in the third quarter, selling 82,585 shares and retaining 36,044 shares valued at approximately $1.58 million. Institutional investors collectively own 45.14% of Amcor.
• Amcor reported quarterly earnings of $1.23 per share, exceeding estimates of $1.19, while revenue reached $6.40 billion and rose 25.9% year over year.
• Amcor pays a quarterly dividend of $0.65, equivalent to a 5.6% annualized yield, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $49.36.

Diversify Advisory Services LLC lowered its stake in Amcor PLC (NYSE:AMCR - Free Report) by 69.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,044 shares of the company's stock after selling 82,585 shares during the quarter. Diversify Advisory Services LLC's holdings in Amcor were worth $1,577,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Brown Financial Advisors increased its holdings in Amcor by 3.9% in the 2nd quarter. Brown Financial Advisors now owns 6,287 shares of the company's stock worth $273,000 after acquiring an additional 237 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Amcor by 2.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 16,268 shares of the company's stock worth $681,000 after acquiring an additional 364 shares during the period. FNY Investment Advisers LLC raised its stake in Amcor by 16.1% during the 2nd quarter. FNY Investment Advisers LLC now owns 3,600 shares of the company's stock worth $156,000 after acquiring an additional 500 shares during the period. Van Hulzen Asset Management LLC lifted its holdings in Amcor by 6.7% during the second quarter. Van Hulzen Asset Management LLC now owns 8,005 shares of the company's stock valued at $347,000 after purchasing an additional 500 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its stake in shares of Amcor by 6.9% in the third quarter. V Square Quantitative Management LLC now owns 7,940 shares of the company's stock worth $332,000 after purchasing an additional 513 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Price Performance

AMCR stock opened at $46.14 on Friday. Amcor PLC has a one year low of $36.25 and a one year high of $50.94. The company's fifty day moving average price is $44.03 and its 200-day moving average price is $42.44. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.76 and a current ratio of 1.25. The company has a market capitalization of $21.33 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 2.88 and a beta of 0.58.

Amcor (NYSE:AMCR - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. The company had revenue of $6.40 billion during the quarter, compared to analysts' expectations of $6.05 billion. Amcor had a net margin of 4.71% and a return on equity of 15.92%. Amcor's quarterly revenue was up 25.9% on a year-over-year basis. During the same period last year, the company posted $0.20 earnings per share. On average, equities analysts anticipate that Amcor PLC will post 1.83 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Friday, September 4th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, September 4th. Amcor's payout ratio is 110.17%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMCR. JPMorgan Chase & Co. restated a "neutral" rating and set a $47.00 price objective (up from $44.00) on shares of Amcor in a research report on Monday, August 17th. Citigroup reaffirmed a "buy" rating and issued a $52.00 target price (up from $47.00) on shares of Amcor in a report on Friday, August 14th. Bank of America upped their target price on shares of Amcor from $48.00 to $51.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. BMO Capital Markets began coverage on Amcor in a research note on Thursday, July 16th. They issued a "market perform" rating and a $47.00 price target for the company. Finally, Jefferies Financial Group set a $44.92 price target on Amcor and gave the company a "hold" rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $49.36.

Amcor Company Profile

Amcor plc NYSE: AMCR is a global packaging company that develops and produces packaging solutions for food, beverage, pharmaceutical, medical, personal care, household, and other consumer and industrial products. Its offerings include flexible packaging, rigid containers, closures, bottles, specialty cartons, and related packaging systems designed to protect products, support supply chains, and improve convenience and sustainability.

The company serves customers across North America, Latin America, Europe, Asia-Pacific, and other international markets.

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