Newbridge Financial Services Group Inc. Cuts Position in Amcor plc (NYSE:AMCR)

Newbridge Financial Services Group Inc. lessened its holdings in Amcor plc (NYSE:AMCR) by 53.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,156 shares of the company’s stock after selling 4,720 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Amcor were worth $40,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Amcor during the third quarter valued at approximately $38,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Amcor during the fourth quarter valued at approximately $40,000. Loomis Sayles & Co. L P grew its holdings 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 valued at $41,000 after buying an additional 1,445 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Amcor during the third quarter valued at approximately $46,000. Finally, MV Capital Management Inc. grew 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 valued at $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.

Amcor Stock Performance

Shares of AMCR stock opened at $9.96 on Wednesday. Amcor plc has a 12-month low of $8.45 and a 12-month high of $10.51. 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’s 50 day moving average is $9.75 and its 200 day moving average is $9.53. The stock has a market capitalization of $14.40 billion, a P/E ratio of 22.13, a P/E/G ratio of 5.43 and a beta of 0.85.

Amcor (NYSE:AMCR) last issued its 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. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter last year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. Research analysts expect that Amcor plc will post 0.7 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd were given a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $0.50 annualized dividend and a yield of 5.02%. Amcor’s payout ratio is presently 111.11%.

Wall Street Analysts Forecast Growth

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

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.