Blue Trust Inc. Sells 2,859 Shares of Amcor plc (NYSE:AMCR)

Blue Trust Inc. lowered its position in Amcor plc (NYSE:AMCR) by 27.6% in the 4th quarter, Holdings Channel reports. The firm owned 7,494 shares of the company’s stock after selling 2,859 shares during the quarter. Blue Trust Inc.’s holdings in Amcor were worth $71,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. lifted its stake in Amcor by 9.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 567,573 shares of the company’s stock worth $5,358,000 after purchasing an additional 47,348 shares during the last quarter. Van ECK Associates Corp bought a new stake in Amcor in the fourth quarter worth about $2,605,000. Allspring Global Investments Holdings LLC lifted its stake in Amcor by 4.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 81,433 shares of the company’s stock worth $761,000 after purchasing an additional 3,751 shares during the last quarter. XY Capital Ltd bought a new stake in Amcor in the fourth quarter worth about $4,263,000. Finally, AlphaStar Capital Management LLC raised its stake in shares of Amcor by 16.6% during the fourth quarter. AlphaStar Capital Management LLC now owns 49,287 shares of the company’s stock valued at $464,000 after acquiring an additional 7,009 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Down 1.5 %

AMCR opened at $10.24 on Monday. The company has a 50-day moving average price of $9.72 and a 200 day moving average price of $10.42. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The company has a market cap of $14.79 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84.

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. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. Sell-side analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 4.98%. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMCR. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Citigroup raised 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 note on Monday, January 6th. Three equities research 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’s stock. According to MarketBeat.com, the stock 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.