Amcor plc (NYSE:AMCR) Stake Decreased by Nixon Peabody Trust Co.

Nixon Peabody Trust Co. lessened its stake in shares of Amcor plc (NYSE:AMCR) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 101,467 shares of the company’s stock after selling 2,500 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Amcor were worth $955,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Larson Financial Group LLC boosted its stake in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after buying an additional 2,319 shares during the period. True Wealth Design LLC increased its holdings in shares of Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares during the period. Covestor Ltd increased its stake in Amcor by 441.0% in the third quarter. Covestor Ltd now owns 7,963 shares of the company’s stock valued at $90,000 after acquiring an additional 6,491 shares during the period. Capital Performance Advisors LLP acquired a new position in Amcor in the third quarter valued at about $97,000. Finally, Graypoint LLC acquired a new position in Amcor in the fourth quarter valued at about $97,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

NYSE:AMCR opened at $10.11 on Friday. The company has a fifty day moving average of $9.78 and a 200-day moving average of $10.41. The firm has a market capitalization of $14.61 billion, a P/E ratio of 18.37, a P/E/G ratio of 1.96 and a beta of 0.84. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly 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 net margin of 5.89% and a return on equity of 26.14%. 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 previous year, the business posted $0.09 EPS. Amcor’s quarterly revenue was down .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is currently 92.73%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and upped their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and increased their price objective for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.