PNC Financial Services Group Inc. decreased its position in Amcor plc (NYSE:AMCR – Get Rating) by 2.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 168,299 shares of the company’s stock after selling 3,904 shares during the period. PNC Financial Services Group Inc.’s holdings in Amcor were worth $1,908,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Van ECK Associates Corp purchased a new stake in shares of Amcor in the first quarter valued at approximately $272,000. Veritable L.P. boosted its holdings in shares of Amcor by 13.4% in the first quarter. Veritable L.P. now owns 43,144 shares of the company’s stock valued at $489,000 after purchasing an additional 5,107 shares during the period. Comerica Bank boosted its holdings in shares of Amcor by 8.0% in the first quarter. Comerica Bank now owns 666,478 shares of the company’s stock valued at $8,004,000 after purchasing an additional 49,481 shares during the period. Invst LLC purchased a new stake in shares of Amcor in the fourth quarter valued at approximately $487,000. Finally, Verdence Capital Advisors LLC boosted its holdings in shares of Amcor by 1.1% in the first quarter. Verdence Capital Advisors LLC now owns 89,569 shares of the company’s stock valued at $1,015,000 after purchasing an additional 950 shares during the period. Hedge funds and other institutional investors own 47.76% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on AMCR. Jefferies Financial Group lowered Amcor from a “hold” rating to an “underperform” rating in a report on Thursday, August 18th. Macquarie lowered Amcor from an “outperform” rating to a “neutral” rating in a report on Thursday, August 18th. CLSA initiated coverage on Amcor in a report on Tuesday, July 19th. They set a “buy” rating for the company. Morgan Stanley lowered Amcor from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 4th. Finally, TheStreet upgraded Amcor from a “c” rating to a “b” rating in a report on Friday, May 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.10.
Amcor Stock Performance
Shares of AMCR stock opened at $12.02 on Tuesday. The business’s fifty day simple moving average is $12.58 and its 200-day simple moving average is $12.21. The company has a market cap of $17.90 billion, a PE ratio of 22.68, a PEG ratio of 2.39 and a beta of 0.77. The company has a current ratio of 1.15, a quick ratio of 0.67 and a debt-to-equity ratio of 1.53. Amcor plc has a 12-month low of $10.66 and a 12-month high of $13.60.
Amcor (NYSE:AMCR – Get Rating) last issued its quarterly earnings results on Wednesday, August 17th. The company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.82 billion. Amcor had a return on equity of 27.37% and a net margin of 5.53%. During the same period in the prior year, the firm posted $0.23 earnings per share. Analysts expect that Amcor plc will post 0.81 earnings per share for the current fiscal year.
Amcor Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Investors of record on Thursday, September 8th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Wednesday, September 7th. Amcor’s payout ratio is 90.57%.
Insider Activity at Amcor
In related news, insider Louis Fred Stephan sold 29,762 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $12.63, for a total value of $375,894.06. Following the transaction, the insider now directly owns 108,598 shares of the company’s stock, valued at approximately $1,371,592.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Louis Fred Stephan sold 29,762 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $12.63, for a total value of $375,894.06. Following the transaction, the insider now directly owns 108,598 shares of the company’s stock, valued at approximately $1,371,592.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eric V. Roegner sold 1,035,748 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $12.58, for a total value of $13,029,709.84. Following the sale, the insider now directly owns 278,308 shares in the company, valued at $3,501,114.64. The disclosure for this sale can be found here. Insiders have sold a total of 1,270,470 shares of company stock valued at $15,924,562 in the last ninety days. Company insiders own 0.39% of the company’s stock.
Amcor Company Profile
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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.
See Also
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