B. Riley Wealth Advisors Inc. Sells 1,108 Shares of Amcor plc (NYSE:AMCR)

B. Riley Wealth Advisors Inc. lowered its holdings in Amcor plc (NYSE:AMCR) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,451 shares of the company’s stock after selling 1,108 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Amcor were worth $696,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Amcor by 31.8% during the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after acquiring an additional 1,096,664 shares during the period. Natixis Advisors LLC increased its position in shares of Amcor by 24.5% during the 3rd quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock worth $7,190,000 after purchasing an additional 124,945 shares in the last quarter. Cerity Partners LLC lifted its holdings in Amcor by 78.7% during the 3rd quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock valued at $2,464,000 after purchasing an additional 95,805 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Amcor during the third quarter worth about $5,919,000. Finally, Sompo Asset Management Co. Ltd. increased its holdings in shares of Amcor by 30.1% during the third quarter. Sompo Asset Management Co. Ltd. now owns 609,250 shares of the company’s stock worth $6,903,000 after buying an additional 140,850 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company upped their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.20.

Amcor Stock Performance

Shares of NYSE:AMCR opened at $9.44 on Thursday. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The stock has a market capitalization of $13.64 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.80 and a beta of 0.82. The business has a 50-day moving average price of $10.51 and a two-hundred day moving average price of $10.52.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm posted $0.16 earnings per share. Amcor’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were given a $0.1275 dividend. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a dividend yield of 5.40%. The ex-dividend date was Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is currently 96.23%.

Amcor Profile

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.