Amcor plc (NYSE:AMCR) Shares Sold by Intrust Bank NA

Intrust Bank NA cut its stake in shares of Amcor plc (NYSE:AMCR) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,452 shares of the company’s stock after selling 2,266 shares during the period. Intrust Bank NA’s holdings in Amcor were worth $155,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Larson Financial Group LLC grew its position in Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after purchasing an additional 2,660 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Amcor during the 4th quarter worth approximately $44,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Amcor during the 4th quarter worth approximately $60,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amcor

In other Amcor news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Amcor Price Performance

AMCR stock opened at $9.64 on Monday. The business has a 50 day moving average price of $9.93 and a 200 day moving average price of $10.23. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The stock has a market cap of $13.93 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.96 and a beta of 0.80. Amcor plc has a fifty-two week low of $8.80 and a fifty-two week high of $11.48.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate 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 the consensus estimate of $3.33 billion. During the same quarter in the previous year, the firm earned $0.09 EPS. The company’s revenue was down .3% compared to the same quarter last year. Equities research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Analyst Ratings Changes

Several equities analysts have commented on AMCR shares. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. 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 research report 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. Finally, Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and upped their target price for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.