Legacy Private Trust Co. increased its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 827.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 554,843 shares of the company's stock after purchasing an additional 495,000 shares during the quarter. Legacy Private Trust Co.'s holdings in Amcor were worth $5,221,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in AMCR. M&G PLC boosted its holdings in shares of Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company's stock worth $549,342,000 after purchasing an additional 2,775,794 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Amcor by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company's stock worth $489,348,000 after buying an additional 1,960,308 shares during the period. Geode Capital Management LLC boosted its stake in Amcor by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company's stock worth $410,144,000 after buying an additional 697,320 shares during the last quarter. ProShare Advisors LLC grew its holdings in Amcor by 7.8% in the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company's stock valued at $194,783,000 after buying an additional 1,443,364 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Amcor by 11.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company's stock valued at $143,989,000 after acquiring an additional 1,527,492 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. Bank of America raised shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price target on the stock in a research note on Wednesday, December 11th. Macquarie upgraded Amcor from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 27th. Wells Fargo & Company lifted their price objective on Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a research note 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, Citigroup upgraded shares of Amcor from a "neutral" rating to a "buy" rating and raised their price target for the company from $11.00 to $12.00 in a report on Monday. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amcor has an average rating of "Moderate Buy" and an average price target of $11.46.
Get Our Latest Stock Report on AMCR
Amcor Stock Up 0.5 %
Shares of NYSE AMCR traded up $0.05 during trading on Wednesday, reaching $9.55. 11,701,645 shares of the stock were exchanged, compared to its average volume of 14,442,769. The company has a market capitalization of $13.80 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 1.80 and a beta of 0.84. The business's 50-day moving average price is $10.00 and its 200 day moving average price is $10.45. 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 plc has a twelve month low of $8.78 and a twelve month high of $11.48.
Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting analysts' consensus estimates of $0.16. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm's revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 EPS. As a group, equities analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.
Amcor Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date was Thursday, November 21st. This is a positive change from Amcor's previous quarterly dividend of $0.13. Amcor's payout ratio is 96.23%.
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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