Commerce Bank Trims Stock Holdings in Amcor plc (NYSE:AMCR)

Commerce Bank reduced its position in Amcor plc (NYSE:AMCR - Free Report) by 69.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 16,794 shares of the company's stock after selling 38,205 shares during the period. Commerce Bank's holdings in Amcor were worth $158,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AMCR. Jones Financial Companies Lllp lifted its stake in Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock valued at $35,000 after buying an additional 2,660 shares during the last quarter. Huntington National Bank increased its holdings in shares of Amcor by 52.4% in the 4th quarter. Huntington National Bank now owns 4,426 shares of the company's stock valued at $42,000 after acquiring an additional 1,522 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Amcor during the 4th quarter worth $44,000. SBI Securities Co. Ltd. acquired a new stake in Amcor during the 4th quarter worth $60,000. Finally, Steward Partners Investment Advisory LLC grew its position in Amcor by 11,326.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock worth $69,000 after purchasing an additional 7,249 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Amcor

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the purchase, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMCR. Citigroup upgraded shares of Amcor from a "neutral" rating to a "buy" rating and increased their target price for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Raymond James assumed coverage on Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating for the company. Truist Financial dropped their target price on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $11.31.

Amcor Price Performance

Amcor stock traded down $0.12 during midday trading on Friday, reaching $9.54. The company's stock had a trading volume of 25,821,230 shares, compared to its average volume of 15,617,730. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor plc has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The firm has a market capitalization of $13.79 billion, a PE ratio of 17.35, a P/E/G ratio of 1.96 and a beta of 0.78. The stock's 50 day simple moving average is $9.67 and its 200 day simple moving average is $9.97.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts' consensus estimates of $0.16. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm's revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. On average, equities research analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.1275 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.35%. Amcor's payout ratio is 92.73%.

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.