Wedge Capital Management L L P NC Sells 4,812 Shares of Amcor plc (NYSE:AMCR)

Wedge Capital Management L L P NC trimmed its position in Amcor plc (NYSE:AMCR) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 628,128 shares of the company’s stock after selling 4,812 shares during the period. Wedge Capital Management L L P NC’s holdings in Amcor were worth $5,911,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after acquiring an additional 1,096,664 shares during the period. Franklin Resources Inc. lifted its stake in Amcor by 39.3% during the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock worth $8,162,000 after purchasing an additional 203,166 shares during the period. Natixis Advisors LLC boosted its holdings in Amcor by 24.5% during the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after purchasing an additional 124,945 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Amcor by 78.7% in the 3rd quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock valued at $2,464,000 after purchasing an additional 95,805 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Amcor during the 3rd quarter worth approximately $5,919,000. 45.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMCR shares. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research report on Wednesday, December 11th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company raised their price objective on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and increased their price target for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Amcor Stock Up 0.1 %

NYSE:AMCR opened at $9.71 on Friday. The company has a market cap of $14.03 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 1.69 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The stock’s fifty day moving average price is $9.89 and its two-hundred day moving average price is $10.44. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48.

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

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were paid a $0.1275 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.26%. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is 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.