Legacy Private Trust Co. Purchases 495,000 Shares of Amcor plc (NYSE:AMCR)

Legacy Private Trust Co. lifted its position in Amcor plc (NYSE:AMCR) by 827.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 554,843 shares of the company’s stock after purchasing an additional 495,000 shares during the quarter. Legacy Private Trust Co.’s holdings in Amcor were worth $5,221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWA Asset Management Group LLC lifted its holdings in shares of Amcor by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock worth $304,000 after acquiring an additional 1,213 shares during the period. Principal Financial Group Inc. lifted its stake in Amcor by 5.7% during the third quarter. Principal Financial Group Inc. now owns 1,969,613 shares of the company’s stock worth $22,316,000 after purchasing an additional 105,457 shares during the period. Franklin Resources Inc. boosted its holdings in Amcor by 39.3% during the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock valued at $8,162,000 after purchasing an additional 203,166 shares in the last quarter. Tidal Investments LLC boosted its holdings in Amcor by 292.5% during the third quarter. Tidal Investments LLC now owns 81,439 shares of the company’s stock valued at $923,000 after purchasing an additional 60,691 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its stake in shares of Amcor by 7.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 53,132 shares of the company’s stock valued at $557,000 after purchasing an additional 3,559 shares during the period. 45.14% of the stock is owned by institutional investors.

Amcor Trading Up 0.5 %

Shares of AMCR traded up $0.05 during trading hours on Wednesday, hitting $9.55. 11,653,223 shares of the stock traded hands, compared to its average volume of 14,432,896. The business has a fifty day moving average of $10.03 and a 200-day moving average of $10.46. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $13.80 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 1.80 and a beta of 0.84. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the company earned $0.16 EPS. Amcor’s revenue was down 2.6% on a year-over-year basis. Analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date was Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is currently 96.23%.

Wall Street Analyst Weigh In

Several research firms recently commented on AMCR. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $11.00 to $12.00 in a research report on Monday. Wells Fargo & Company upped their target price 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. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $12.00 in a research note on Monday. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

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.