Revisor Wealth Management LLC Reduces Position in Amcor plc (NYSE:AMCR)

Revisor Wealth Management LLC lessened its holdings in shares of Amcor plc (NYSE:AMCR) by 27.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,680 shares of the company’s stock after selling 8,957 shares during the period. Revisor Wealth Management LLC’s holdings in Amcor were worth $224,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMCR. Marshall Wace LLP boosted its position in shares of Amcor by 303.9% during the fourth quarter. Marshall Wace LLP now owns 8,699,610 shares of the company’s stock valued at $81,863,000 after buying an additional 6,545,689 shares during the period. Wellington Management Group LLP boosted its position in shares of Amcor by 25.1% during the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock valued at $263,215,000 after buying an additional 5,614,233 shares during the period. First Trust Advisors LP raised its stake in shares of Amcor by 474.7% during the fourth quarter. First Trust Advisors LP now owns 5,402,490 shares of the company’s stock valued at $50,837,000 after acquiring an additional 4,462,367 shares in the last quarter. Invesco Ltd. raised its stake in shares of Amcor by 16.0% during the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock valued at $286,300,000 after acquiring an additional 4,199,209 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Amcor during the fourth quarter valued at approximately $31,485,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AMCR shares. Raymond James started coverage on shares of Amcor in a research note on Tuesday, April 22nd. They set a “market perform” rating for the company. Truist Financial decreased their price target on shares of Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Four equities research 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $11.31.

Amcor Stock Down 0.8%

Amcor stock opened at $8.96 on Friday. The business has a fifty day moving average of $9.34 and a two-hundred day moving average of $9.73. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The firm has a market cap of $12.94 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.96 and a beta of 0.78. Amcor plc has a twelve month low of $8.37 and a twelve month high of $11.48.

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

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $0.1275 per share. The ex-dividend date is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.70%. Amcor’s dividend payout ratio is currently 91.07%.

Insider Transactions at Amcor

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the transaction, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.

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.