B. Riley Wealth Advisors Inc. Has $612,000 Stake in Amcor plc (NYSE:AMCR)

B. Riley Wealth Advisors Inc. reduced its stake in shares of Amcor plc (NYSE:AMCR) by 50.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,559 shares of the company’s stock after selling 62,470 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Amcor were worth $612,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Amcor by 2.1% during the first quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after acquiring an additional 1,170,986 shares in the last quarter. M&G Plc raised its stake in Amcor by 2,741.7% during the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after acquiring an additional 45,504,608 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Amcor by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock worth $195,946,000 after acquiring an additional 2,086,698 shares in the last quarter. ProShare Advisors LLC raised its stake in Amcor by 7.8% during the second quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock worth $194,783,000 after acquiring an additional 1,443,364 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in Amcor during the fourth quarter worth $155,438,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Price Performance

Amcor stock opened at $11.20 on Friday. The business’s 50-day simple moving average is $10.95 and its 200 day simple moving average is $10.15. The stock has a market cap of $16.19 billion, a price-to-earnings ratio of 24.89, a P/E/G 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 company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67.

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

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 6th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend was Friday, September 6th. Amcor’s dividend payout ratio (DPR) is currently 111.11%.

Analyst Ratings Changes

AMCR has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. Citigroup raised their target price on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Robert W. Baird raised their target price on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. raised their target price on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Finally, Stifel Nicolaus started coverage on Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 target price for the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Amcor currently has an average rating of “Hold” and a consensus price target of $10.73.

About Amcor

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.