Schaper Benz & Wise Investment Counsel Inc. WI Sells 17,982 Shares of Amcor plc (NYSE:AMCR)

Schaper Benz & Wise Investment Counsel Inc. WI cut its holdings in shares of Amcor plc (NYSE:AMCR) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 544,540 shares of the company’s stock after selling 17,982 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Amcor were worth $6,170,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AMCR. Blue Trust Inc. boosted its holdings in Amcor by 514.1% during the 3rd quarter. Blue Trust Inc. now owns 10,353 shares of the company’s stock valued at $117,000 after acquiring an additional 8,667 shares during the period. Eliot Finkel Investment Counsel LLC bought a new stake in Amcor in the third quarter valued at approximately $1,134,000. Cardinal Capital Management boosted its stake in shares of Amcor by 1.3% during the third quarter. Cardinal Capital Management now owns 117,094 shares of the company’s stock valued at $1,327,000 after purchasing an additional 1,478 shares during the period. Vontobel Holding Ltd. grew its holdings in shares of Amcor by 10.1% in the third quarter. Vontobel Holding Ltd. now owns 23,417 shares of the company’s stock worth $265,000 after purchasing an additional 2,140 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Amcor by 9.3% in the third quarter. Creative Planning now owns 117,518 shares of the company’s stock worth $1,331,000 after buying an additional 10,029 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 0.1 %

AMCR opened at $11.24 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. Amcor plc has a 52 week low of $8.45 and a 52 week high of $11.48. The stock has a market cap of $16.25 billion, a PE ratio of 24.98, a PEG ratio of 2.72 and a beta of 0.85. The business has a 50 day moving average of $11.09 and a 200-day moving average of $10.28.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, August 15th. The company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. Equities research analysts predict that Amcor plc will post 0.75 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 6th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend was Friday, September 6th. Amcor’s dividend payout ratio is 111.11%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMCR. Stifel Nicolaus assumed coverage on shares of Amcor in a report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price target on the stock. JPMorgan Chase & Co. upped their price target on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Robert W. Baird lifted their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Wells Fargo & Company upped their target price on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Citigroup lifted their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.78.

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.