Ieq Capital LLC reduced its stake in shares of Amcor plc (NYSE:AMCR – Get Rating) by 22.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 17,666 shares of the company’s stock after selling 5,214 shares during the period. Ieq Capital LLC’s holdings in Amcor were worth $210,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Amcor by 8.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,483,868 shares of the company’s stock valued at $58,842,000 after purchasing an additional 430,241 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Amcor by 9.9% in the third quarter. Fifth Third Bancorp now owns 41,639 shares of the company’s stock valued at $447,000 after buying an additional 3,755 shares in the last quarter. Welch & Forbes LLC bought a new position in shares of Amcor in the fourth quarter valued at $137,000. Natixis Advisors L.P. grew its stake in shares of Amcor by 2.1% in the fourth quarter. Natixis Advisors L.P. now owns 147,313 shares of the company’s stock valued at $1,754,000 after buying an additional 3,022 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators grew its stake in shares of Amcor by 16.3% in the third quarter. Deseret Mutual Benefit Administrators now owns 17,803 shares of the company’s stock valued at $191,000 after buying an additional 2,491 shares in the last quarter. 46.79% of the stock is currently owned by institutional investors and hedge funds.
Amcor Trading Up 0.8 %
AMCR stock opened at $11.06 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.33 and a quick ratio of 0.76. The company has a fifty day moving average price of $11.04 and a two-hundred day moving average price of $11.54. Amcor plc has a one year low of $10.42 and a one year high of $13.60. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 5.05 and a beta of 0.81.
Amcor Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 21st. Stockholders of record on Wednesday, March 1st were issued a dividend of $0.1225 per share. This represents a $0.49 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Tuesday, February 28th. Amcor’s dividend payout ratio is currently 68.06%.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. Morgan Stanley cut shares of Amcor from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, February 8th. JPMorgan Chase & Co. cut shares of Amcor from an “overweight” rating to a “neutral” rating and set a $11.70 target price for the company. in a research note on Tuesday, January 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.70.
About Amcor
Amcor Plc operates as a holding company, which engages in the consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.
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