Amcor plc (NYSE:AMCR) Shares Sold by Whittier Trust Co.

Whittier Trust Co. cut its stake in Amcor plc (NYSE:AMCR) by 12.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,515 shares of the company’s stock after selling 4,869 shares during the quarter. Whittier Trust Co.’s holdings in Amcor were worth $380,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AMCR. Riverview Trust Co purchased a new position in shares of Amcor in the first quarter valued at approximately $28,000. Rise Advisors LLC acquired a new position in Amcor in the 3rd quarter valued at $35,000. ORG Wealth Partners LLC purchased a new position in Amcor in the 3rd quarter valued at $35,000. Quent Capital LLC boosted its stake in Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after purchasing an additional 1,241 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after purchasing an additional 2,519 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMCR. Wells Fargo & Company raised their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lifted their target price on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Stifel Nicolaus started coverage on shares of Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price target for the company. Robert W. Baird raised their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, Citigroup increased their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Amcor presently has a consensus rating of “Hold” and a consensus price target of $10.78.

Amcor Price Performance

AMCR stock opened at $11.03 on Thursday. Amcor plc has a 1 year low of $8.51 and a 1 year high of $11.48. The firm has a market capitalization of $15.94 billion, a P/E ratio of 24.51, a P/E/G ratio of 2.72 and a beta of 0.85. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69. The business’s 50-day moving average is $11.12 and its two-hundred day moving average is $10.32.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the company earned $0.19 earnings per share. The firm’s revenue was down 3.8% compared to the same quarter last year. Analysts anticipate that Amcor plc will post 0.75 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend was Friday, September 6th. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

About Amcor

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.