Stifel Financial Corp Reduces Holdings in Amcor plc (NYSE:AMCR)

Stifel Financial Corp reduced its stake in shares of Amcor plc (NYSE:AMCR) by 11.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,086,251 shares of the company’s stock after selling 141,142 shares during the quarter. Stifel Financial Corp’s holdings in Amcor were worth $12,307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP grew its position in Amcor by 9.2% in the 3rd quarter. Quantinno Capital Management LP now owns 444,920 shares of the company’s stock valued at $5,041,000 after buying an additional 37,340 shares during the last quarter. IHT Wealth Management LLC boosted its holdings in shares of Amcor by 7.1% in the third quarter. IHT Wealth Management LLC now owns 27,597 shares of the company’s stock valued at $313,000 after acquiring an additional 1,831 shares in the last quarter. Hilltop Holdings Inc. increased its stake in shares of Amcor by 105.7% during the third quarter. Hilltop Holdings Inc. now owns 41,088 shares of the company’s stock worth $466,000 after acquiring an additional 21,117 shares during the period. Centiva Capital LP acquired a new position in shares of Amcor during the third quarter worth about $1,083,000. Finally, Benjamin Edwards Inc. acquired a new stake in Amcor in the third quarter valued at about $508,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMCR has been the subject of a number of analyst reports. Robert W. Baird increased their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Citigroup upped their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research note on Wednesday. Wells Fargo & Company increased their target price on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.20.

Amcor Stock Performance

NYSE:AMCR opened at $10.01 on Thursday. Amcor plc has a twelve month low of $8.78 and a twelve month high of $11.48. The company has a market capitalization of $14.47 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 1.83 and a beta of 0.82. 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 firm has a 50-day moving average price of $10.67 and a two-hundred day moving average price of $10.53.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 EPS. As a group, research analysts expect 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 issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.09%. 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 dividend payout ratio is 96.23%.

Amcor Company 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.