Silvercrest Asset Management Group LLC Lowers Position in Amcor plc (NYSE:AMCR)

Silvercrest Asset Management Group LLC cut its stake in Amcor plc (NYSE:AMCR) by 19.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,313 shares of the company’s stock after selling 2,722 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Amcor were worth $106,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Amcor by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock worth $555,064,000 after purchasing an additional 1,249,868 shares in the last quarter. Barclays PLC grew its position in Amcor by 31.8% in the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after purchasing an additional 1,096,664 shares in the last quarter. Van ECK Associates Corp bought a new stake in Amcor in the 4th quarter worth about $2,605,000. Empowered Funds LLC grew its position in Amcor by 25.9% in the 4th quarter. Empowered Funds LLC now owns 167,952 shares of the company’s stock worth $1,580,000 after purchasing an additional 34,573 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in Amcor by 11,326.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock worth $69,000 after purchasing an additional 7,249 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amcor

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This represents a 12.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Raymond James assumed coverage on shares of Amcor in a research report on Tuesday, April 22nd. They issued a “market perform” rating for the company. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Truist Financial cut their price target on shares of Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.31.

Amcor Stock Performance

Shares of AMCR opened at $9.19 on Thursday. The firm has a market cap of $13.28 billion, a PE ratio of 16.70, a PEG ratio of 1.96 and a beta of 0.78. The stock’s fifty day moving average price is $9.37 and its two-hundred day moving average price is $9.75. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a 1 year low of $8.37 and a 1 year high of $11.48.

Amcor (NYSE:AMCR) last issued its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period in the previous year, the company posted $0.13 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. On average, equities research analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd will be paid a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.55%. Amcor’s dividend payout ratio is 91.07%.

About Amcor

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.