WASHINGTON TRUST Co trimmed its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 92.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,699 shares of the company's stock after selling 47,311 shares during the period. WASHINGTON TRUST Co's holdings in Amcor were worth $35,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC boosted its stake in shares of Amcor by 8.4% during the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company's stock valued at $138,000 after buying an additional 946 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Amcor by 9.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company's stock valued at $132,000 after acquiring an additional 1,023 shares in the last quarter. Forum Financial Management LP boosted its stake in Amcor by 7.7% during the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company's stock valued at $167,000 after acquiring an additional 1,058 shares during the last quarter. Prime Capital Investment Advisors LLC grew its holdings in Amcor by 6.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company's stock worth $215,000 after acquiring an additional 1,085 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its position in shares of Amcor by 3.9% in the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company's stock worth $304,000 after purchasing an additional 1,213 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.
Amcor Stock Performance
Shares of AMCR traded up $0.03 during mid-day trading on Wednesday, reaching $10.20. 17,360,635 shares of the company's stock traded hands, compared to its average volume of 18,555,896. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48. The stock has a market capitalization of $14.74 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84. The business's 50-day moving average price is $9.71 and its 200-day moving average price is $10.42. 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 (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the company posted $0.09 earnings per share. The company's quarterly revenue was down .3% compared to the same quarter last year. Equities analysts predict that Amcor plc will post 0.74 earnings per share for the current year.
Amcor Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.00%. Amcor's payout ratio is 92.73%.
Wall Street Analyst Weigh In
A number of research firms recently commented on AMCR. Bank of America upgraded Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price target for the company in a research note on Wednesday, December 11th. UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Truist Financial raised Amcor from a "hold" rating to a "buy" rating and upped their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Finally, Citigroup raised 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 report on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amcor has an average rating of "Moderate Buy" and a consensus target price of $11.46.
View Our Latest Stock Analysis on AMCR
About Amcor
(
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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