Citizens National Bank Trust Department Purchases Shares of 31,474 Amcor PLC $AMCR

Citizens National Bank Trust Department purchased a new position in shares of Amcor PLC (NYSE:AMCR) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,474 shares of the company’s stock, valued at approximately $1,251,000.

A number of other hedge funds have also recently made changes to their positions in the business. Dakota Wealth Management boosted its holdings in Amcor by 74.6% during the 4th quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock valued at $2,881,000 after acquiring an additional 147,639 shares during the period. PFG Investments LLC bought a new position in Amcor during the 4th quarter worth approximately $262,000. Vanguard Group Inc. increased its stake in Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after purchasing an additional 1,845,627 shares during the period. Code Waechter LLC increased its stake in Amcor by 105.1% in the 4th quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock worth $451,000 after purchasing an additional 27,725 shares during the period. Finally, Nordea Investment Management AB lifted its position in Amcor by 64.0% in the fourth quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock valued at $2,034,000 after purchasing an additional 94,753 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Performance

NYSE:AMCR opened at $43.18 on Monday. The stock has a market cap of $19.96 billion, a P/E ratio of 30.19, a price-to-earnings-growth ratio of 1.22 and a beta of 0.62. The firm’s fifty day simple moving average is $40.21 and its 200 day simple moving average is $42.11. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the business earned $0.90 EPS. The company’s revenue for the quarter was up 77.4% on a year-over-year basis. As a group, research analysts predict that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s dividend payout ratio is presently 181.82%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target on the stock. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Truist Financial reaffirmed a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Amcor Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.