Mission Wealth Management LP Cuts Stock Holdings in Amcor plc (NYSE:AMCR)

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Mission Wealth Management LP lowered its stake in shares of Amcor plc (NYSE:AMCR) by 6.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,173 shares of the company’s stock after selling 1,120 shares during the quarter. Mission Wealth Management LP’s holdings in Amcor were worth $167,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMCR. BlackRock Inc. bought a new stake in Amcor during the 2nd quarter worth about $745,182,000. Vanguard Group Inc. bought a new stake in shares of Amcor in the 2nd quarter valued at about $652,670,000. Invesco Ltd. bought a new stake in shares of Amcor in the 2nd quarter valued at about $454,432,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Amcor in the 2nd quarter valued at about $142,713,000. Finally, Northern Trust Corp bought a new stake in shares of Amcor in the 2nd quarter valued at about $129,824,000. Hedge funds and other institutional investors own 26.66% of the company’s stock.

In other news, insider Louis Fred Stephan sold 69,787 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $10.27, for a total value of $716,712.49. Corporate insiders own 0.23% of the company’s stock.

NYSE AMCR traded down $0.01 during trading hours on Friday, reaching $9.77. 8,154,463 shares of the company’s stock were exchanged, compared to its average volume of 5,784,187. Amcor plc has a one year low of $8.75 and a one year high of $11.77. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.15 and a quick ratio of 0.72. The business’s 50-day moving average price is $9.62. The firm has a market capitalization of $16.15 billion, a P/E ratio of 16.02 and a beta of 0.75.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Amcor had a return on equity of 22.10% and a net margin of 4.72%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the company earned $0.68 EPS. The company’s revenue was up 38.8% compared to the same quarter last year.

AMCR has been the subject of a number of recent analyst reports. ValuEngine raised Amcor from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Jefferies Financial Group initiated coverage on Amcor in a research note on Tuesday, October 22nd. They issued an “underperform” rating for the company.

Amcor Company Profile

Amcor plc develops, manufactures, and sells various packaging products for food, beverage, pharmaceutical, medical, home and personal care, and other products worldwide. It provides flexible packaging products, specialty cartons, plastic bottles and jars, and capsules and closures. The company is based in Bristol, the United Kingdom.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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