DAVENPORT & Co LLC raised its holdings in Amcor plc (NYSE:AMCR – Get Rating) by 267.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 105,155 shares of the company's stock after buying an additional 76,560 shares during the period. DAVENPORT & Co LLC's holdings in Amcor were worth $1,307,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc lifted its position in shares of Amcor by 24,433.3% during the 1st quarter. AdvisorNet Financial Inc now owns 3,680 shares of the company's stock worth $42,000 after purchasing an additional 3,665 shares during the last quarter. Cornerstone Advisory LLC purchased a new stake in shares of Amcor during the 4th quarter worth $46,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Amcor by 78.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,493 shares of the company's stock worth $51,000 after purchasing an additional 1,982 shares during the last quarter. Riverview Trust Co lifted its position in shares of Amcor by 80.1% during the 1st quarter. Riverview Trust Co now owns 5,389 shares of the company's stock worth $61,000 after purchasing an additional 2,396 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Amcor by 59.3% during the 1st quarter. CWM LLC now owns 5,646 shares of the company's stock worth $64,000 after purchasing an additional 2,102 shares during the last quarter. Hedge funds and other institutional investors own 47.76% of the company's stock.
Get Amcor alerts:Insider Buying and Selling at Amcor
In other Amcor news, insider Eric V. Roegner sold 1,035,748 shares of Amcor stock in a transaction on Friday, August 26th. The shares were sold at an average price of $12.58, for a total value of $13,029,709.84. Following the transaction, the insider now directly owns 278,308 shares in the company, valued at $3,501,114.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Louis Fred Stephan sold 29,762 shares of the business's stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $12.63, for a total transaction of $375,894.06. Following the transaction, the insider now directly owns 108,598 shares in the company, valued at $1,371,592.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric V. Roegner sold 1,035,748 shares of the business's stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $12.58, for a total transaction of $13,029,709.84. Following the transaction, the insider now owns 278,308 shares in the company, valued at $3,501,114.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,905,114 shares of company stock worth $35,840,080. 0.39% of the stock is owned by company insiders.
Amcor Price Performance
Shares of NYSE:AMCR opened at $10.90 on Thursday. The company's fifty day moving average price is $12.26 and its 200 day moving average price is $12.24. Amcor plc has a 12 month low of $10.56 and a 12 month high of $13.60. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.15 and a quick ratio of 0.67. The firm has a market capitalization of $16.23 billion, a P/E ratio of 20.57, a P/E/G ratio of 2.15 and a beta of 0.77.Amcor (NYSE:AMCR – Get Rating) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.24 EPS for the quarter, meeting analysts' consensus estimates of $0.24. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.82 billion. Amcor had a net margin of 5.53% and a return on equity of 27.37%. During the same period in the previous year, the business posted $0.23 earnings per share. As a group, sell-side analysts predict that Amcor plc will post 0.81 earnings per share for the current fiscal year.
Amcor Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Thursday, September 8th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.48 dividend on an annualized basis and a yield of 4.40%. Amcor's dividend payout ratio is presently 90.57%.
Analysts Set New Price Targets
AMCR has been the subject of several recent analyst reports. Jefferies Financial Group cut shares of Amcor from a "hold" rating to an "underperform" rating in a research report on Thursday, August 18th. Macquarie lowered shares of Amcor from an "outperform" rating to a "neutral" rating in a research note on Thursday, August 18th. Morgan Stanley lowered shares of Amcor from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 4th. Finally, CLSA assumed coverage on shares of Amcor in a research note on Tuesday, July 19th. They set a "buy" rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $12.15.
About Amcor
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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.
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