Amcor (NYSE:AMCR) Sets New 12-Month Low – Should You Sell?

Amcor plc (NYSE:AMCR)’s stock price reached a new 52-week low on Monday . The company traded as low as $8.74 and last traded at $8.80, with a volume of 2104504 shares traded. The stock had previously closed at $9.22.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMCR. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and lifted their price target for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a report on Wednesday, December 11th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Three research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Down 2.7 %

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 cap of $12.97 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The firm’s 50-day moving average is $9.91 and its 200 day moving average is $10.18.

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

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.68%. The ex-dividend date was Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is 92.73%.

Insider Buying and Selling at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. The trade was a 12.66 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amcor

Several large investors have recently added to or reduced their stakes in AMCR. Vanguard Group Inc. lifted its holdings in Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock worth $555,064,000 after acquiring an additional 1,249,868 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Amcor by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after buying an additional 2,862,471 shares during the last quarter. Geode Capital Management LLC increased its position in Amcor by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company’s stock worth $345,952,000 after buying an additional 539,756 shares during the period. Invesco Ltd. lifted its stake in Amcor by 16.0% in the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock valued at $286,300,000 after buying an additional 4,199,209 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Amcor by 25.1% during the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock valued at $263,215,000 after acquiring an additional 5,614,233 shares during the period. 45.14% of the stock is currently owned by institutional investors.

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.