Amcor plc (NYSE:AMCR) Shares Sold by First Bank & Trust

First Bank & Trust cut its position in shares of Amcor plc (NYSE:AMCR) by 7.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 102,935 shares of the company’s stock after selling 8,620 shares during the quarter. First Bank & Trust’s holdings in Amcor were worth $969,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC raised its holdings in Amcor by 136.3% during the fourth quarter. Concurrent Investment Advisors LLC now owns 35,373 shares of the company’s stock worth $333,000 after purchasing an additional 20,402 shares during the last quarter. Private Advisor Group LLC raised its holdings in Amcor by 25.5% during the fourth quarter. Private Advisor Group LLC now owns 15,408 shares of the company’s stock worth $145,000 after purchasing an additional 3,131 shares during the last quarter. Convergence Investment Partners LLC acquired a new position in Amcor during the fourth quarter worth $879,000. Cardinal Capital Management raised its holdings in Amcor by 1.9% during the fourth quarter. Cardinal Capital Management now owns 119,305 shares of the company’s stock worth $1,123,000 after purchasing an additional 2,211 shares during the last quarter. Finally, Kestra Investment Management LLC raised its holdings in Amcor by 23.5% during the fourth quarter. Kestra Investment Management LLC now owns 23,916 shares of the company’s stock worth $225,000 after purchasing an additional 4,547 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMCR has been the subject of several research reports. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a report on Wednesday, December 11th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amcor has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.20 on Thursday. The company has a market cap of $14.74 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.93 and a beta of 0.84. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The business has a fifty day simple moving average of $9.71 and a 200-day simple moving average of $10.42.

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

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio is currently 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.