Amcor plc (NYSE:AMCR) Shares Sold by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC cut its holdings in Amcor plc (NYSE:AMCR) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,860 shares of the company’s stock after selling 3,112 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Amcor were worth $1,222,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AMCR. Gradient Investments LLC acquired a new stake in Amcor during the fourth quarter worth approximately $471,000. Diversify Wealth Management LLC boosted its holdings in shares of Amcor by 101.5% in the 4th quarter. Diversify Wealth Management LLC now owns 318,849 shares of the company’s stock valued at $3,000,000 after purchasing an additional 160,579 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Amcor by 41.0% in the 4th quarter. HB Wealth Management LLC now owns 68,466 shares of the company’s stock valued at $644,000 after purchasing an additional 19,915 shares during the last quarter. Financial & Tax Architects LLC boosted its holdings in shares of Amcor by 12.8% in the 4th quarter. Financial & Tax Architects LLC now owns 56,579 shares of the company’s stock valued at $532,000 after purchasing an additional 6,434 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of Amcor in the 4th quarter valued at $127,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AMCR shares. Wells Fargo & Company raised their target price on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. UBS Group raised shares of 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 raised their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research note on Wednesday, December 11th. Finally, Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.46.

Amcor Price Performance

Shares of AMCR stock opened at $9.75 on Friday. The firm has a market cap of $14.09 billion, a P/E ratio of 18.39, a P/E/G ratio of 1.86 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The firm has a fifty day moving average of $9.84 and a two-hundred day moving average of $10.44.

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

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.23%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, November 21st. Amcor’s payout ratio is presently 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.