Crossmark Global Holdings Inc. Cuts Stock Holdings in Amcor plc (NYSE:AMCR)

Crossmark Global Holdings Inc. lowered its position in Amcor plc (NYSE:AMCR) by 40.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 123,713 shares of the company’s stock after selling 85,045 shares during the period. Crossmark Global Holdings Inc.’s holdings in Amcor were worth $1,164,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Diversify Wealth Management LLC increased its stake in shares of Amcor by 101.5% in the 4th quarter. Diversify Wealth Management LLC now owns 318,849 shares of the company’s stock valued at $3,000,000 after purchasing an additional 160,579 shares in the last quarter. HB Wealth Management LLC grew its holdings in Amcor by 41.0% in the fourth quarter. HB Wealth Management LLC now owns 68,466 shares of the company’s stock valued at $644,000 after purchasing an additional 19,915 shares during the period. Financial & Tax Architects LLC increased its position in shares of Amcor by 12.8% in the fourth quarter. Financial & Tax Architects LLC now owns 56,579 shares of the company’s stock valued at $532,000 after buying an additional 6,434 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Amcor during the 4th quarter worth approximately $127,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of Amcor by 5.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 156,111 shares of the company’s stock valued at $1,469,000 after buying an additional 8,078 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Performance

Shares of Amcor stock opened at $9.75 on Friday. The business’s 50 day moving average price is $9.85 and its 200 day moving average price is $10.44. The company has a market cap of $14.09 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 1.86 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. Amcor plc has a one year low of $8.78 and a one year high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm 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 posted $0.16 EPS. The company’s revenue was down 2.6% compared to the same quarter last year. On average, research analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were issued a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a yield of 5.23%. Amcor’s dividend payout ratio is currently 96.23%.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMCR shares. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and raised their price target for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

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.