Blue Trust Inc. Cuts Holdings in Amcor plc (NYSE:AMCR)

Blue Trust Inc. trimmed its holdings in shares of Amcor plc (NYSE:AMCR) by 27.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,494 shares of the company’s stock after selling 2,859 shares during the period. Blue Trust Inc.’s holdings in Amcor were worth $71,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AMCR. Creative Planning boosted its stake in Amcor by 9.3% during the 3rd quarter. Creative Planning now owns 117,518 shares of the company’s stock valued at $1,331,000 after purchasing an additional 10,029 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Amcor by 296.3% during the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after buying an additional 3,242 shares during the period. Private Advisor Group LLC bought a new position in shares of Amcor during the 3rd quarter valued at $139,000. Greenleaf Trust bought a new position in shares of Amcor during the 3rd quarter valued at $128,000. Finally, International Assets Investment Management LLC bought a new position in shares of Amcor during the 3rd quarter valued at $3,860,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMCR. 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. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their price target for the company from $11.00 to $12.00 in a report on Monday, January 6th. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and increased their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amcor currently has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Trading Down 1.5 %

Shares of 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 firm has a market capitalization of $14.79 billion, a PE ratio of 18.61, a PEG ratio of 1.99 and a beta of 0.84. The stock has a fifty day simple moving average of $9.72 and a two-hundred day simple moving average of $10.42.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the business posted $0.09 EPS. Amcor’s revenue for the quarter was down .3% compared to the same quarter last year. On average, analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be paid a $0.1275 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 4.98%. Amcor’s payout ratio is presently 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.