Vanguard Group Inc. Sells 900,773 Shares of Amcor plc (NYSE:AMCR)

Vanguard Group Inc. reduced its stake in shares of Amcor plc (NYSE:AMCR) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,578,332 shares of the company’s stock after selling 900,773 shares during the quarter. Vanguard Group Inc. owned 3.85% of Amcor worth $535,775,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMCR. Nordea Investment Management AB grew its stake in shares of Amcor by 12.3% during the third quarter. Nordea Investment Management AB now owns 87,795 shares of the company’s stock valued at $809,000 after buying an additional 9,603 shares during the last quarter. FMR LLC grew its stake in shares of Amcor by 315.0% during the third quarter. FMR LLC now owns 1,816,174 shares of the company’s stock valued at $16,636,000 after buying an additional 1,378,594 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Amcor by 37.2% during the third quarter. Hsbc Holdings PLC now owns 523,324 shares of the company’s stock valued at $4,801,000 after buying an additional 141,834 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of Amcor during the third quarter valued at about $708,000. Finally, LPL Financial LLC grew its stake in shares of Amcor by 12.0% in the third quarter. LPL Financial LLC now owns 2,807,382 shares of the company’s stock worth $25,716,000 after purchasing an additional 301,237 shares during the last quarter. 45.14% of the stock is owned by institutional investors.

Amcor Stock Up 0.6 %

NYSE AMCR opened at $10.01 on Tuesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.29 and a quick ratio of 0.75. The stock has a market capitalization of $14.47 billion, a PE ratio of 22.24, a PEG ratio of 5.38 and a beta of 0.85. 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 is $9.82 and its 200 day moving average is $9.55.

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

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd were issued a $0.125 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $0.50 annualized dividend and a yield of 5.00%. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Analyst Ratings Changes

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

Amcor 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.