Bank of Montreal Can Reduces Stock Position in Amcor plc (NYSE:AMCR)

Bank of Montreal Can trimmed its holdings in shares of Amcor plc (NYSE:AMCR) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,100,612 shares of the company’s stock after selling 23,522 shares during the quarter. Bank of Montreal Can owned 0.08% of Amcor worth $12,492,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AMCR. Larson Financial Group LLC boosted its stake in Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after buying an additional 2,319 shares during the period. Rise Advisors LLC bought a new stake in shares of Amcor in the 3rd quarter worth about $35,000. ORG Wealth Partners LLC purchased a new position in shares of Amcor during the 3rd quarter worth about $35,000. Quent Capital LLC grew its holdings in 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 purchasing an additional 1,241 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Amcor by 132.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after purchasing an additional 2,519 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 1.3 %

Shares of Amcor stock opened at $10.64 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The stock has a market cap of $15.38 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.92 and a beta of 0.85. The firm’s 50-day moving average is $10.80 and its two-hundred day moving average is $10.51. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48.

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

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be given a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 4.79%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s payout ratio is presently 96.23%.

Analyst Ratings Changes

AMCR has been the topic of several recent analyst reports. Citigroup increased their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird increased their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. boosted their target price on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Wells Fargo & Company raised their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Amcor has a consensus rating of “Hold” and an average price target of $10.94.

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.