Fulton Bank N.A. Decreases Stake in Amcor plc (NYSE:AMCR)

Fulton Bank N.A. lessened its holdings in shares of Amcor plc (NYSE:AMCR) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,842 shares of the company’s stock after selling 1,545 shares during the quarter. Fulton Bank N.A.’s holdings in Amcor were worth $780,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Lake Street Advisors Group LLC boosted its stake in Amcor by 8.4% during the third quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock worth $138,000 after buying an additional 946 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Amcor by 9.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock valued at $132,000 after acquiring an additional 1,023 shares during the last quarter. Forum Financial Management LP grew its holdings in shares of Amcor by 7.7% in the third quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock valued at $167,000 after purchasing an additional 1,058 shares during the period. Prime Capital Investment Advisors LLC increased its position in Amcor by 6.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock worth $215,000 after purchasing an additional 1,085 shares during the last quarter. Finally, CWA Asset Management Group LLC raised its stake in Amcor by 3.9% during the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock worth $304,000 after purchasing an additional 1,213 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Up 0.5 %

Shares of NYSE:AMCR opened at $9.55 on Friday. 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. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The firm’s 50-day moving average is $9.97 and its two-hundred day moving average is $10.45.

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

Amcor Increases Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on AMCR shares. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $12.00 in a report on Monday. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a report on Wednesday, December 11th. Finally, Wells Fargo & Company increased their target price 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. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amcor has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor 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.