Amcor plc (NYSE:AMCR) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its position in shares of Amcor plc (NYSE:AMCR) by 21.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,592 shares of the company’s stock after selling 134,404 shares during the quarter. Truist Financial Corp’s holdings in Amcor were worth $4,664,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AMCR. Larson Financial Group LLC increased its stake in shares of Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after purchasing an additional 2,319 shares in the last quarter. True Wealth Design LLC boosted its position in Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Amcor by 296.3% during the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after purchasing an additional 3,242 shares during the last quarter. Covestor Ltd boosted its stake in Amcor by 441.0% during the third quarter. Covestor Ltd now owns 7,963 shares of the company’s stock worth $90,000 after buying an additional 6,491 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Amcor in the third quarter valued at about $97,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Down 1.5 %

AMCR opened at $10.24 on Monday. The business’s 50 day moving average is $9.72 and its two-hundred day moving average is $10.42. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The firm has a market cap of $14.79 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 1.99 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 (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period last year, the firm earned $0.09 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, research analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders 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 yield of 4.98%. The ex-dividend date is Wednesday, February 26th. Amcor’s dividend payout ratio is presently 92.73%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMCR. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Finally, Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus 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.