Bank of Montreal Can Sells 2,760 Shares of Amcor plc (NYSE:AMCR)

Bank of Montreal Can decreased its position in Amcor plc (NYSE:AMCR) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,097,852 shares of the company’s stock after selling 2,760 shares during the quarter. Bank of Montreal Can owned approximately 0.08% of Amcor worth $10,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMCR. Jones Financial Companies Lllp increased its stake in shares of Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after acquiring an additional 2,660 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Amcor during the fourth quarter valued at approximately $44,000. Huntington National Bank increased its stake in shares of Amcor by 52.4% during the fourth quarter. Huntington National Bank now owns 4,426 shares of the company’s stock valued at $42,000 after purchasing an additional 1,522 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Amcor during the fourth quarter valued at approximately $60,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Amcor by 11,326.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock worth $69,000 after purchasing an additional 7,249 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 3.5 %

Amcor stock opened at $9.34 on Monday. Amcor plc has a one year low of $8.37 and a one year high of $11.48. The business’s fifty day moving average is $9.79 and its 200 day moving average is $10.08. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The stock has a market capitalization of $13.49 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the business posted $0.09 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.1275 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.46%. Amcor’s payout ratio is 92.73%.

Insider Transactions at Amcor

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, the director now owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AMCR shares. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and raised their price objective for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently 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.