Amcor plc (NYSE:AMCR) Position Trimmed by Connectus Wealth LLC

Connectus Wealth LLC lessened its holdings in shares of Amcor plc (NYSE:AMCRFree Report) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,335 shares of the company’s stock after selling 12,728 shares during the quarter. Connectus Wealth LLC’s holdings in Amcor were worth $2,278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Amcor during the 3rd quarter valued at about $38,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Amcor in the 4th quarter worth approximately $40,000. Loomis Sayles & Co. L P lifted its holdings in Amcor by 48.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 4,445 shares of the company’s stock worth $41,000 after purchasing an additional 1,445 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Amcor during the third quarter worth approximately $46,000. Finally, MV Capital Management Inc. lifted its holdings in shares of Amcor by 33.7% during the fourth quarter. MV Capital Management Inc. now owns 5,193 shares of the company’s stock worth $50,000 after buying an additional 1,310 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price objective on Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st.

Check Out Our Latest Stock Analysis on Amcor

Amcor Trading Down 1.5 %

NYSE:AMCR opened at $10.01 on Monday. Amcor plc has a 1-year low of $8.45 and a 1-year high of $10.51. The business’s 50-day moving average price is $9.64 and its two-hundred day moving average price is $9.50. The company has a current ratio of 1.29, a quick ratio of 0.75 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 5.47 and a beta of 0.85.

Amcor (NYSE:AMCRGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.49 billion. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 earnings per share. On average, equities analysts expect that Amcor plc will post 0.7 earnings per share for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd will be paid a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.50 dividend on an annualized basis and a yield of 5.00%. Amcor’s dividend payout ratio is 111.11%.

Amcor Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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