First Bank & Trust Boosts Stake in Amcor plc (NYSE:AMCR)

First Bank & Trust lifted its holdings in Amcor plc (NYSE:AMCR) by 8.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,781 shares of the company’s stock after buying an additional 8,545 shares during the period. First Bank & Trust’s holdings in Amcor were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Amcor by 3.9% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 139,656 shares of the company’s stock worth $1,328,000 after buying an additional 5,283 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Amcor by 12.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 399,148 shares of the company’s stock worth $3,796,000 after purchasing an additional 44,788 shares during the period. Brookstone Capital Management acquired a new position in Amcor in the 1st quarter valued at about $105,000. Kingswood Wealth Advisors LLC boosted its holdings in Amcor by 12.5% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 40,068 shares of the company’s stock valued at $381,000 after purchasing an additional 4,438 shares during the last quarter. Finally, Hoxton Planning & Management LLC acquired a new position in Amcor in the 1st quarter valued at about $118,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMCR. JPMorgan Chase & Co. boosted their target price on shares of Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Wells Fargo & Company began coverage on shares of Amcor in a report on Friday. They issued an “equal weight” rating and a $9.80 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.93.

Amcor Trading Down 0.3 %

Shares of AMCR stock traded down $0.03 during trading hours on Friday, hitting $9.78. The company had a trading volume of 13,607,522 shares, compared to its average volume of 8,375,611. The company’s fifty day moving average is $9.90 and its 200 day moving average is $9.55. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.29 and a quick ratio of 0.75. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $10.51. The stock has a market capitalization of $14.14 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 5.34 and a beta of 0.85.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same period in the prior year, the business posted $0.18 EPS. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. Research analysts expect that Amcor plc will post 0.7 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd were issued a $0.125 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $0.50 annualized dividend and a dividend yield of 5.11%. Amcor’s dividend payout ratio is currently 111.11%.

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.