Moors & Cabot Inc. Has $153,000 Stock Holdings in Amcor plc (NYSE:AMCR)

Posted by on May 6th, 2023

Moors & Cabot Inc. lowered its position in Amcor plc (NYSE:AMCR – Get Rating) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,750 shares of the company’s stock after selling 1,573 shares during the quarter. Moors & Cabot Inc.’s holdings in Amcor were worth $153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Spire Wealth Management grew its position in shares of Amcor by 29.5% in the 3rd quarter. Spire Wealth Management now owns 4,007 shares of the company’s stock valued at $43,000 after buying an additional 913 shares during the last quarter. General Partner Inc. acquired a new position in shares of Amcor in the fourth quarter worth approximately $48,000. IFP Advisors Inc boosted its holdings in Amcor by 16.0% in the third quarter. IFP Advisors Inc now owns 6,593 shares of the company’s stock valued at $94,000 after acquiring an additional 908 shares during the last quarter. Concord Wealth Partners acquired a new stake in Amcor during the 4th quarter valued at approximately $104,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in Amcor by 56.1% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 9,102 shares of the company’s stock worth $108,000 after purchasing an additional 3,271 shares during the last quarter. Institutional investors own 46.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group raised shares of Amcor from an “underperform” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. upgraded Amcor from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $11.60 to $10.80 in a report on Wednesday. Finally, Morgan Stanley downgraded Amcor from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.80.

Amcor Trading Up 2.1 %

NYSE:AMCR opened at $10.42 on Friday. Amcor plc has a 12 month low of $9.79 and a 12 month high of $13.60. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $15.48 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 4.90 and a beta of 0.80. The firm has a fifty day simple moving average of $10.98 and a two-hundred day simple moving average of $11.52.

Amcor (NYSE:AMCR – Get Rating) last issued its earnings results on Tuesday, May 2nd. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Amcor had a return on equity of 27.94% and a net margin of 6.54%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the business posted $0.21 EPS. Analysts expect that Amcor plc will post 0.73 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Wednesday, May 24th will be given a dividend of $0.1225 per share. This represents a $0.49 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend is Tuesday, May 23rd. Amcor’s payout ratio is 74.24%.

About Amcor

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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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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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