Procyon Advisors LLC Has $184,000 Stock Holdings in Amcor plc (NYSE:AMCR)

Procyon Advisors LLC lowered its stake in shares of Amcor plc (NYSE:AMCR) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,506 shares of the company’s stock after selling 1,851 shares during the period. Procyon Advisors LLC’s holdings in Amcor were worth $184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Amcor by 275.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock valued at $74,931,000 after purchasing an additional 4,851,222 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Amcor by 39,411.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock valued at $31,855,000 after buying an additional 2,804,484 shares in the last quarter. M&G PLC grew its holdings in shares of Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after buying an additional 2,775,794 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Amcor by 356.1% during the second quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock worth $28,659,000 after acquiring an additional 2,287,826 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Amcor by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock worth $489,348,000 after acquiring an additional 1,960,308 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Up 0.1 %

Shares of NYSE:AMCR opened at $9.71 on Tuesday. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The company has a market capitalization of $14.03 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 1.69 and a beta of 0.84. The business has a fifty day moving average price of $9.89 and a two-hundred day moving average price of $10.45. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74.

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

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.1275 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.51 annualized dividend and a dividend yield of 5.26%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is presently 96.23%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company lifted their target price on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their price target for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

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.