Prudential PLC Lowers Holdings in Amcor plc (NYSE:AMCR)

Prudential PLC reduced its stake in shares of Amcor plc (NYSE:AMCRFree Report) by 14.9% in the 4th quarter, Holdings Channel reports. The fund owned 88,579 shares of the company’s stock after selling 15,489 shares during the period. Prudential PLC’s holdings in Amcor were worth $854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Wealth Alliance increased its holdings in shares of Amcor by 1.9% during the 4th quarter. Wealth Alliance now owns 55,592 shares of the company’s stock valued at $536,000 after purchasing an additional 1,061 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Amcor by 17.0% in the fourth quarter. Global Retirement Partners LLC now owns 8,397 shares of the company’s stock valued at $80,000 after buying an additional 1,222 shares in the last quarter. MV Capital Management Inc. raised its position in shares of Amcor by 33.7% in the fourth quarter. MV Capital Management Inc. now owns 5,193 shares of the company’s stock worth $50,000 after acquiring an additional 1,310 shares during the period. Loomis Sayles & Co. L P boosted its stake in shares of Amcor by 48.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 4,445 shares of the company’s stock worth $41,000 after acquiring an additional 1,445 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. grew its position in shares of Amcor by 1.5% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 107,305 shares of the company’s stock valued at $1,034,000 after acquiring an additional 1,539 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Price Performance

Shares of NYSE AMCR opened at $9.90 on Tuesday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29. The firm has a fifty day moving average of $9.65 and a 200 day moving average of $9.51. The firm has a market cap of $14.31 billion, a PE ratio of 22.00, a PEG ratio of 5.47 and a beta of 0.85. Amcor plc has a one year low of $8.45 and a one year high of $10.51.

Amcor (NYSE:AMCRGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 earnings per share. As a group, research analysts predict that Amcor plc will post 0.7 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd will be issued a dividend of $0.125 per share. The ex-dividend date is Tuesday, May 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.05%. Amcor’s payout ratio is currently 111.11%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price target on Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st.

View Our Latest Report on Amcor

Amcor Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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