Prudential PLC Sells 15,489 Shares of Amcor plc (NYSE:AMCR)

Prudential PLC reduced its position in Amcor plc (NYSE:AMCRFree Report) by 14.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,579 shares of the company’s stock after selling 15,489 shares during the quarter. Prudential PLC’s holdings in Amcor were worth $854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Amcor Trading Down 1.1 %

Shares of Amcor stock opened at $9.90 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.29 and a debt-to-equity ratio of 1.76. The firm has a market cap of $14.31 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 5.47 and a beta of 0.85. Amcor plc has a twelve month low of $8.45 and a twelve month high of $10.51. The business has a 50-day moving average price of $9.65 and a 200-day moving average price of $9.51.

Amcor (NYSE:AMCRGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $3.41 billion for 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 was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. Equities research analysts anticipate that Amcor plc will post 0.7 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.50 annualized dividend and a yield of 5.05%. Amcor’s dividend payout ratio (DPR) is currently 111.11%.

Wall Street Analyst Weigh In

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

Get Our Latest Stock Report on AMCR

About Amcor

(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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