American Century Companies Inc. Sells 7,412,998 Shares of Amcor plc (NYSE:AMCR)

American Century Companies Inc. cut its holdings in shares of Amcor plc (NYSE:AMCR) by 44.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,081,355 shares of the company’s stock after selling 7,412,998 shares during the quarter. American Century Companies Inc. owned 0.63% of Amcor worth $88,816,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AMCR. Riverview Trust Co bought a new stake in Amcor during the 1st quarter worth approximately $28,000. Quent Capital LLC lifted its position 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 acquiring an additional 1,241 shares during the period. EverSource Wealth Advisors LLC lifted its position in Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after acquiring an additional 2,519 shares during the period. UMB Bank n.a. lifted its position in 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 acquiring an additional 1,299 shares during the period. Finally, ORG Partners LLC purchased a new position in Amcor during the 2nd quarter valued at about $47,000. 45.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Amcor Price Performance

AMCR stock opened at $10.99 on Friday. Amcor plc has a one year low of $8.45 and a one year high of $11.45. The company’s fifty day moving average price is $10.60 and its 200-day moving average price is $9.95. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17. The company has a market capitalization of $15.88 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities analysts anticipate that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 6th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.55%. The ex-dividend date is Friday, September 6th. Amcor’s dividend payout ratio is presently 111.11%.

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.