Amcor plc (NYSE:AMCR) Stake Boosted by Legacy Private Trust Co.

Legacy Private Trust Co. raised its position in shares of Amcor plc (NYSE:AMCR) by 827.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 554,843 shares of the company’s stock after buying an additional 495,000 shares during the quarter. Legacy Private Trust Co.’s holdings in Amcor were worth $5,221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMCR. Larson Financial Group LLC boosted its position in Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after acquiring an additional 2,319 shares during the period. Rise Advisors LLC purchased a new position in Amcor during the third quarter valued at approximately $35,000. ORG Wealth Partners LLC acquired a new position in Amcor in the 3rd quarter valued at approximately $35,000. True Wealth Design LLC lifted its position in Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after buying an additional 3,225 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Amcor by 296.3% during the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after buying an additional 3,242 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

NYSE:AMCR traded up $0.05 during midday trading on Wednesday, reaching $9.55. The stock had a trading volume of 11,653,223 shares, compared to its average volume of 14,432,896. The stock has a market capitalization of $13.80 billion, a P/E ratio of 18.02, a PEG ratio of 1.80 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The firm’s fifty day simple moving average is $10.03 and its 200-day simple moving average is $10.46.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the company posted $0.16 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities research analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were paid a $0.1275 dividend. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 21st. This represents a $0.51 annualized dividend and a dividend yield of 5.34%. Amcor’s dividend payout ratio (DPR) is presently 96.23%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AMCR shares. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Wednesday, December 11th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $11.00 to $12.00 in a report on Monday. 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 research report on Tuesday, October 15th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and raised their price target for the company from $10.00 to $12.00 in a report on Monday. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.