Verus Capital Partners LLC Reduces Holdings in Amcor plc (NYSE:AMCR)

Verus Capital Partners LLC reduced its position in Amcor plc (NYSE:AMCR) by 21.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 12,973 shares of the company’s stock after selling 3,498 shares during the period. Verus Capital Partners LLC’s holdings in Amcor were worth $147,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GSA Capital Partners LLP lifted its stake in Amcor by 51.9% in the third quarter. GSA Capital Partners LLP now owns 34,190 shares of the company’s stock valued at $387,000 after buying an additional 11,685 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Amcor in the 3rd quarter valued at $345,000. Crossmark Global Holdings Inc. raised its position in Amcor by 77.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 208,758 shares of the company’s stock valued at $2,365,000 after purchasing an additional 91,321 shares during the last quarter. Covestor Ltd boosted its stake in Amcor by 441.0% during the 3rd quarter. Covestor Ltd now owns 7,963 shares of the company’s stock worth $90,000 after purchasing an additional 6,491 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in Amcor during the 3rd quarter worth $353,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMCR has been the subject of several recent research reports. Robert W. Baird increased their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Citigroup increased their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their target price on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. increased their price target on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.94.

Amcor Stock Down 0.7 %

AMCR opened at $10.12 on Thursday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. Amcor plc has a 12 month low of $8.78 and a 12 month high of $11.48. The stock has a market capitalization of $14.62 billion, a P/E ratio of 19.09, a P/E/G ratio of 1.83 and a beta of 0.85. The business has a 50 day simple moving average of $10.99 and a 200-day simple moving average of $10.48.

Amcor (NYSE:AMCR) last released its earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. Amcor’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 earnings per share. On average, equities analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.1275 per share. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 5.04%. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio is presently 94.34%.

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.