Amcor plc (NYSE:AMCR) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc cut its holdings in Amcor plc (NYSE:AMCR) by 7.0% during the third quarter, Holdings Channel reports. The institutional investor owned 346,646 shares of the company’s stock after selling 26,079 shares during the period. CIBC Asset Management Inc’s holdings in Amcor were worth $3,927,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AMCR. Lifeworks Advisors LLC increased its holdings in shares of Amcor by 29.4% in the 3rd quarter. Lifeworks Advisors LLC now owns 364,999 shares of the company’s stock valued at $4,135,000 after acquiring an additional 82,854 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in Amcor by 30.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 34,759 shares of the company’s stock valued at $394,000 after purchasing an additional 8,078 shares during the last quarter. Metis Global Partners LLC raised its holdings in Amcor by 21.9% during the third quarter. Metis Global Partners LLC now owns 131,308 shares of the company’s stock worth $1,488,000 after purchasing an additional 23,620 shares in the last quarter. KBC Group NV lifted its position in shares of Amcor by 94.8% during the 3rd quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock worth $33,312,000 after buying an additional 1,430,545 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC boosted its holdings in shares of Amcor by 6.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock valued at $215,000 after buying an additional 1,085 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMCR has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Robert W. Baird boosted their target price on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Citigroup raised their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. boosted their price objective on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.94.

Amcor Stock Performance

Shares of AMCR stock opened at $10.16 on Tuesday. The stock’s 50-day moving average price is $10.90 and its 200 day moving average price is $10.50. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48. The stock has a market capitalization of $14.68 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last issued 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. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. As a group, equities research analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.02%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 21st. Amcor’s payout ratio is 96.23%.

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.