Amcor plc (NYSE:AMCR) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its stake in shares of Amcor plc (NYSE:AMCR) by 13.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,193,328 shares of the company’s stock after selling 335,347 shares during the quarter. BNP Paribas Financial Markets owned about 0.15% of Amcor worth $24,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Larson Financial Group LLC raised its holdings 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 purchasing an additional 2,319 shares in the last quarter. Rise Advisors LLC acquired a new position in Amcor during the 3rd quarter worth approximately $35,000. ORG Wealth Partners LLC purchased a new position in shares of Amcor during the 3rd quarter worth approximately $35,000. Quent Capital LLC lifted its holdings in shares of Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after buying an additional 1,241 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Amcor by 296.3% in the third 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. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMCR has been the topic of several research analyst reports. Citigroup boosted their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. 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. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday. Robert W. Baird upped their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.94.

Amcor Stock Up 1.2 %

AMCR stock opened at $10.63 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The company’s 50 day simple moving average is $10.80 and its 200-day simple moving average is $10.51. Amcor plc has a 12 month low of $8.78 and a 12 month high of $11.48. The firm has a market capitalization of $15.36 billion, a PE ratio of 20.06, a P/E/G ratio of 1.89 and a beta of 0.85.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the business posted $0.16 earnings per share. Amcor’s revenue was down 2.6% compared to the same quarter last year. Equities analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date is Thursday, November 21st. This is a positive change from Amcor’s previous quarterly dividend of $0.13. 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.