Epoch Investment Partners Inc. Sells 1,213,043 Shares of Amcor plc (NYSE:AMCR)

Epoch Investment Partners Inc. reduced its position in shares of Amcor plc (NYSE:AMCR) by 97.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,035 shares of the company’s stock after selling 1,213,043 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Amcor were worth $304,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Amcor during the 4th quarter valued at $47,669,000. Coldstream Capital Management Inc. grew its holdings in Amcor by 13.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 16,681 shares of the company’s stock valued at $161,000 after purchasing an additional 2,038 shares during the period. Assetmark Inc. increased its position in Amcor by 19.2% in the fourth quarter. Assetmark Inc. now owns 68,268 shares of the company’s stock worth $658,000 after buying an additional 10,986 shares in the last quarter. Orion Portfolio Solutions LLC increased its position in Amcor by 28.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 55,556 shares of the company’s stock worth $545,000 after buying an additional 12,422 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in shares of Amcor by 13.1% in the fourth quarter. Advisory Services Network LLC now owns 102,926 shares of the company’s stock worth $992,000 after buying an additional 11,944 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 1.0 %

AMCR opened at $11.19 on Wednesday. The company has a market capitalization of $16.17 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85. The firm has a 50-day simple moving average of $10.78 and a two-hundred day simple moving average of $10.05. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. Amcor plc has a 52 week low of $8.45 and a 52 week high of $11.45.

Amcor (NYSE:AMCR) last announced its quarterly 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 company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company earned $0.19 earnings per share. The firm’s revenue was down 3.8% on a year-over-year basis. Analysts forecast that Amcor plc will post 0.75 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm 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 dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Friday, September 6th. Amcor’s payout ratio is 111.11%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMCR. Stifel Nicolaus assumed coverage on Amcor in a research note on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective for the company. Citigroup increased their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Robert W. Baird lifted their target price 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. Wells Fargo & Company increased their price target on Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. 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, Amcor has a consensus rating of “Hold” and an average target price of $10.73.

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.