Amcor plc (NYSE:AMCR) Shares Sold by Qsemble Capital Management LP

Qsemble Capital Management LP trimmed its holdings in shares of Amcor plc (NYSE:AMCR) by 19.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,725 shares of the company’s stock after selling 3,823 shares during the period. Qsemble Capital Management LP’s holdings in Amcor were worth $154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. NorthRock Partners LLC raised its stake in Amcor by 2.0% during the 1st quarter. NorthRock Partners LLC now owns 54,237 shares of the company’s stock valued at $516,000 after acquiring an additional 1,050 shares during the last quarter. Czech National Bank grew its holdings in shares of Amcor by 0.5% in the 1st quarter. Czech National Bank now owns 254,309 shares of the company’s stock worth $2,418,000 after acquiring an additional 1,166 shares during the period. Quent Capital LLC lifted its stake in 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 buying an additional 1,241 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in Amcor by 5.3% in the 2nd quarter. Arkadios Wealth Advisors now owns 25,597 shares of the company’s stock valued at $250,000 after buying an additional 1,298 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake 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 period. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Amcor Stock Performance

NYSE:AMCR opened at $10.99 on Friday. Amcor plc has a 1 year low of $8.45 and a 1 year high of $11.45. The firm has a 50 day moving average of $10.60 and a 200-day moving average of $9.95. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $15.88 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85.

Amcor (NYSE:AMCR) last released its earnings results on Thursday, August 15th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The firm had revenue of $3.54 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the business earned $0.19 EPS. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.50 annualized dividend and a yield of 4.55%. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

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.