Amcor plc (NYSE:AMCR) Shares Sold by First County Bank CT

First County Bank CT decreased its holdings in Amcor plc (NYSE:AMCR) by 12.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,632 shares of the company’s stock after selling 5,567 shares during the quarter. First County Bank CT’s holdings in Amcor were worth $354,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AMCR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Amcor by 275.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after acquiring an additional 4,851,222 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Amcor by 39,411.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock valued at $31,855,000 after buying an additional 2,804,484 shares during the period. M&G PLC lifted its stake in Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after acquiring an additional 2,775,794 shares in the last quarter. AQR Capital Management LLC boosted its position in Amcor by 356.1% during the 2nd quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock worth $28,659,000 after acquiring an additional 2,287,826 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Amcor by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after acquiring an additional 1,960,308 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 1.1 %

Shares of AMCR traded up $0.10 during trading hours on Tuesday, hitting $9.53. 10,361,104 shares of the company were exchanged, compared to its average volume of 13,572,245. The firm’s 50 day moving average is $10.06 and its 200-day moving average is $10.46. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The company has a market cap of $13.77 billion, a PE ratio of 17.98, a PEG ratio of 1.80 and a beta of 0.84.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were given a $0.1275 dividend. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a dividend yield of 5.35%. The ex-dividend date was Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is currently 96.23%.

Analyst Upgrades and Downgrades

Several analysts recently commented on AMCR shares. Wells Fargo & Company raised their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. 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. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Citigroup raised Amcor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $11.00 to $12.00 in a research note on Monday. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor 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.