Amcor plc (NYSE:AMCR) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its position in Amcor plc (NYSE:AMCR) by 53.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 532,427 shares of the company’s stock after selling 623,324 shares during the quarter. Sei Investments Co.’s holdings in Amcor were worth $5,207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AMCR. Riverview Trust Co acquired a new position in shares of Amcor during the first quarter worth about $28,000. Quent Capital LLC raised its holdings in shares of Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after purchasing an additional 1,241 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after purchasing an additional 2,519 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Amcor by 38.7% during the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after purchasing an additional 1,299 shares during the last quarter. Finally, ORG Partners LLC acquired a new position in shares of Amcor during the second quarter worth $47,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

AMCR stock opened at $11.33 on Wednesday. The company has a market capitalization of $16.38 billion, a P/E ratio of 25.18, a PEG ratio of 2.73 and a beta of 0.85. Amcor plc has a twelve month low of $8.45 and a twelve month high of $11.48. The business has a 50 day simple moving average of $10.89 and a 200-day simple moving average of $10.12. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the business posted $0.19 EPS. The company’s revenue was down 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Amcor plc will post 0.75 EPS for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a yield of 4.41%. Amcor’s payout ratio is 111.11%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup lifted their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird boosted their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Stifel Nicolaus started coverage on shares of Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.73.

Amcor Company Profile

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.