Truist Financial Corp cut its holdings in shares of Amcor plc (NYSE:AMCR – Free Report) by 21.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 495,592 shares of the company’s stock after selling 134,404 shares during the period. Truist Financial Corp’s holdings in Amcor were worth $4,664,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. Barclays PLC lifted its holdings in Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after buying an additional 1,096,664 shares during the last quarter. Franklin Resources Inc. grew its stake in Amcor by 39.3% during the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock worth $8,162,000 after buying an additional 203,166 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of Amcor by 24.5% in the 3rd quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock worth $7,190,000 after acquiring an additional 124,945 shares during the period. Cerity Partners LLC increased its stake in shares of Amcor by 78.7% in the third quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock valued at $2,464,000 after purchasing an additional 95,805 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Amcor in the 3rd quarter valued at approximately $5,919,000. 45.14% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
AMCR has been the subject of several research analyst reports. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research 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 on the stock in a report on Wednesday, December 11th. Finally, UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.46.
Amcor Stock Performance
AMCR stock opened at $10.24 on Monday. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The stock has a market cap of $14.79 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.99 and a beta of 0.84. The firm has a 50 day simple moving average of $9.72 and a 200 day simple moving average of $10.42.
Amcor (NYSE:AMCR – Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the company posted $0.09 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. Research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.
Amcor Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.98%. 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.
See Also
- Five stocks we like better than Amcor
- Canada Bond Market Holiday: How to Invest and Trade
- Why Genuine Parts Company Is a Royally Good Buy Right Now
- What Do S&P 500 Stocks Tell Investors About the Market?
- Industrials Are Quietly Outpacing the Market: 3 Stocks to Watch
- Investing In Preferred Stock vs. Common Stock
- These 5 Energy Stocks Hedge Inflation With Growth Potential
Want to see what other hedge funds are holding AMCR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amcor plc (NYSE:AMCR – Free Report).
Receive News & Ratings for Amcor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amcor and related companies with MarketBeat.com's FREE daily email newsletter.