Amcor plc (NYSE:AMCR) Stake Cut by Park Place Capital Corp

Park Place Capital Corp decreased its holdings in shares of Amcor plc (NYSE:AMCR) by 26.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,515 shares of the company’s stock after selling 7,040 shares during the period. Park Place Capital Corp’s holdings in Amcor were worth $221,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Goldman Sachs Group Inc. increased its holdings in shares of Amcor by 9.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,875,349 shares of the company’s stock worth $85,558,000 after acquiring an additional 788,369 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Amcor by 227.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 166,140 shares of the company’s stock valued at $1,602,000 after buying an additional 115,345 shares during the last quarter. Redwood Investment Management LLC acquired a new position in shares of Amcor during the fourth quarter worth approximately $2,010,000. Point72 Europe London LLP bought a new position in Amcor in the 4th quarter worth approximately $616,000. Finally, Sunpointe LLC acquired a new stake in Amcor in the 4th quarter valued at approximately $135,000. 45.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on AMCR shares. JPMorgan Chase & Co. increased their price target on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Stifel Nicolaus started coverage on shares of Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price target for the company. 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. Robert W. Baird upped 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, Citigroup increased their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.73.

Amcor Price Performance

Shares of NYSE:AMCR opened at $11.08 on Wednesday. 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 $16.01 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 2.73 and a beta of 0.85. The stock has a fifty day moving average of $10.96 and a 200-day moving average of $10.17. Amcor plc has a one year low of $8.45 and a one year high of $11.48.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Thursday, August 15th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. Amcor had a net margin of 5.35% and a return on equity of 25.45%. 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 firm earned $0.19 earnings per share. The business’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 6th were given a $0.125 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.50 annualized dividend and a dividend yield of 4.51%. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

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.