Prospera Private Wealth LLC Sells 7,098 Shares of Amcor plc (NYSE:AMCR)

Prospera Private Wealth LLC trimmed its position in shares of Amcor plc (NYSE:AMCR) by 16.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,266 shares of the company’s stock after selling 7,098 shares during the period. Prospera Private Wealth LLC’s holdings in Amcor were worth $400,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Amcor by 2.1% in the first quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after buying an additional 1,170,986 shares in the last quarter. M&G PLC raised its stake in Amcor by 5.9% in the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after buying an additional 2,775,794 shares in the last quarter. M&G Plc raised its stake in Amcor by 2,741.7% in the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after buying an additional 45,504,608 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Amcor by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock worth $195,946,000 after buying an additional 2,086,698 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in Amcor by 7.8% in the second quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock worth $194,783,000 after buying an additional 1,443,364 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Citigroup raised their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. 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. Finally, Robert W. Baird raised their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.94.

Amcor Trading Up 4.5 %

Shares of AMCR stock opened at $10.34 on Thursday. The firm’s 50 day moving average is $10.87 and its 200 day moving average is $10.50. The stock has a market capitalization of $14.94 billion, a P/E ratio of 19.50, a P/E/G ratio of 1.84 and a beta of 0.85. Amcor plc has a 12-month low of $8.78 and a 12-month high of $11.48. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80.

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

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be paid a $0.1275 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 4.93%. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is presently 94.34%.

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.