Code Waechter LLC Sells 4,832 Shares of Amcor plc (NYSE:AMCR)

Code Waechter LLC lessened its position in shares of Amcor plc (NYSE:AMCR) by 24.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 14,690 shares of the company’s stock after selling 4,832 shares during the quarter. Code Waechter LLC’s holdings in Amcor were worth $138,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after acquiring an additional 2,319 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Amcor during the third quarter valued at about $35,000. ORG Wealth Partners LLC bought a new position in shares of Amcor during the 3rd quarter worth about $35,000. True Wealth Design LLC grew its stake in shares of Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares during the period. Finally, Signaturefd LLC increased its position in Amcor by 296.3% in the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after buying an additional 3,242 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMCR. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company boosted their target price 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. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Citigroup raised Amcor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Stock Up 1.2 %

AMCR stock opened at $9.52 on Tuesday. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The stock has a market cap of $13.76 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.80 and a beta of 0.84. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The company’s 50 day moving average is $9.94 and its 200 day moving average is $10.45.

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

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were paid a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 5.36%. Amcor’s payout ratio is currently 96.23%.

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.