Mackenzie Financial Corp Sells 1,353 Shares of Amcor plc (NYSE:AMCR)

Mackenzie Financial Corp lowered its position in Amcor plc (NYSE:AMCR) by 9.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,249 shares of the company’s stock after selling 1,353 shares during the period. Mackenzie Financial Corp’s holdings in Amcor were worth $120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMCR. NorthRock Partners LLC raised its holdings in Amcor by 2.0% in the first quarter. NorthRock Partners LLC now owns 54,237 shares of the company’s stock worth $516,000 after purchasing an additional 1,050 shares in the last quarter. Czech National Bank boosted its holdings in shares of Amcor by 0.5% during the 1st quarter. Czech National Bank now owns 254,309 shares of the company’s stock valued at $2,418,000 after buying an additional 1,166 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of Amcor by 51.8% during 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 boosted its holdings in shares of Amcor by 5.3% during 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. boosted its holdings 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 valued at $46,000 after buying an additional 1,299 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Amcor stock opened at $11.11 on Tuesday. The firm has a market capitalization of $16.06 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 2.73 and a beta of 0.85. Amcor plc has a 12-month low of $8.45 and a 12-month high of $11.48. The firm has a 50-day moving average price of $10.95 and a 200-day moving average price of $10.16. 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 released its earnings results on Thursday, August 15th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Amcor plc will post 0.75 EPS for the current year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 6th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date was Friday, September 6th. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AMCR shares. Wells Fargo & Company upped their price objective on Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research report on Friday, August 16th. Citigroup lifted their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. boosted 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. 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 report on Friday, August 16th. Finally, Stifel Nicolaus assumed coverage on Amcor in a research report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 target price for the company. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.