Private Trust Co. NA Sells 989 Shares of Amcor plc (NYSE:AMCR)

by · The Cerbat Gem

Private Trust Co. NA lowered its holdings in Amcor plc (NYSE:AMCR – Free Report) by 3.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 26,076 shares of the company’s stock after selling 989 shares during the period. Private Trust Co. NA’s holdings in Amcor were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. M&G Plc increased its holdings in Amcor by 2,741.7% during the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after purchasing an additional 45,504,608 shares in the last quarter. SteelPeak Wealth LLC bought a new stake in Amcor in the 2nd quarter valued at approximately $781,000. Cardinal Capital Management boosted its holdings in Amcor by 832.2% during the second quarter. Cardinal Capital Management now owns 115,616 shares of the company’s stock worth $1,131,000 after purchasing an additional 103,213 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Amcor by 24.5% in the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after acquiring an additional 124,945 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. raised its position in Amcor by 30.1% during the third quarter. Sompo Asset Management Co. Ltd. now owns 609,250 shares of the company’s stock worth $6,903,000 after acquiring an additional 140,850 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of AMCR stock opened at $10.50 on Friday. The company has a market capitalization of $15.18 billion, a P/E ratio of 19.81, a PEG ratio of 1.89 and a beta of 0.85. 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 has a 50 day moving average price of $10.80 and a two-hundred day moving average price of $10.51. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48.

Amcor (NYSE:AMCR – Get Free Report) 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 company had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 earnings per share. Analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 4.86%. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is currently 96.23%.

Analysts Set New Price Targets

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

Read Our Latest Research Report on Amcor

Amcor Company Profile

(Free Report)

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.

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