Raymond James Financial Services Advisors Inc. Has $869,000 Position in Amcor plc (NYSE:AMCR)

Raymond James Financial Services Advisors Inc. grew its stake in Amcor plc (NYSE:AMCRGet Rating) by 33.7% during the third quarter, HoldingsChannel reports. The firm owned 81,020 shares of the company’s stock after buying an additional 20,441 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Amcor were worth $869,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in shares of Amcor by 7.7% in the 2nd quarter. State Street Corp now owns 121,269,740 shares of the company’s stock worth $1,507,383,000 after purchasing an additional 8,624,959 shares during the period. Vanguard Group Inc. grew its stake in shares of Amcor by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 56,742,108 shares of the company’s stock worth $642,887,000 after acquiring an additional 358,145 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Amcor by 40.9% in the 1st quarter. Invesco Ltd. now owns 27,078,220 shares of the company’s stock worth $306,797,000 after buying an additional 7,854,257 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amcor by 7.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 23,967,874 shares of the company’s stock worth $271,556,000 after buying an additional 1,564,919 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Amcor by 123.3% in the 2nd quarter. Federated Hermes Inc. now owns 19,299,989 shares of the company’s stock worth $239,899,000 after buying an additional 10,658,601 shares during the last quarter. 46.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Louis Fred Stephan sold 478,561 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $12.30, for a total value of $5,886,300.30. Following the transaction, the insider now directly owns 112,464 shares in the company, valued at $1,383,307.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Amcor news, Director Nicholas T. Long sold 5,372 shares of the stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $12.40, for a total transaction of $66,612.80. Following the transaction, the director now directly owns 29,769 shares in the company, valued at $369,135.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Louis Fred Stephan sold 478,561 shares of the stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $12.30, for a total transaction of $5,886,300.30. Following the transaction, the insider now owns 112,464 shares in the company, valued at $1,383,307.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,080,955 shares of company stock worth $13,145,237. Insiders own 0.61% of the company’s stock.

Amcor Trading Up 1.1 %

Shares of AMCR opened at $11.88 on Monday. The business’s 50-day moving average price is $12.09 and its 200-day moving average price is $11.96. Amcor plc has a twelve month low of $10.42 and a twelve month high of $13.60. The stock has a market cap of $17.69 billion, a PE ratio of 21.21, a P/E/G ratio of 3.84 and a beta of 0.80. The company has a quick ratio of 0.71, a current ratio of 1.27 and a debt-to-equity ratio of 1.73.

Amcor (NYSE:AMCRGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.58 billion. Amcor had a net margin of 5.63% and a return on equity of 28.47%. On average, equities analysts forecast that Amcor plc will post 0.78 EPS for the current fiscal year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 13th. Investors of record on Wednesday, November 23rd were given a $0.1225 dividend. This represents a $0.49 annualized dividend and a dividend yield of 4.12%. This is a boost from Amcor’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, November 22nd. Amcor’s dividend payout ratio is 87.50%.

Analyst Ratings Changes

AMCR has been the topic of several recent research reports. TheStreet raised shares of Amcor from a “c+” rating to a “b-” rating in a report on Thursday, November 10th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating in a research report on Thursday, October 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Amcor presently has a consensus rating of “Hold” and an average target price of $12.15.

Amcor Profile

(Get Rating)

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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