US Bancorp DE Sells 1,559 Shares of Amcor plc (NYSE:AMCR)

US Bancorp DE decreased its position in Amcor plc (NYSE:AMCR) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 771,255 shares of the company’s stock after selling 1,559 shares during the period. US Bancorp DE’s holdings in Amcor were worth $8,738,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AMCR. Lake Street Advisors Group LLC grew its stake in Amcor by 8.4% in the third quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock valued at $138,000 after acquiring an additional 946 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of Amcor by 9.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock valued at $132,000 after purchasing an additional 1,023 shares during the period. NorthRock Partners LLC increased its stake in Amcor by 2.0% during the 1st quarter. NorthRock Partners LLC now owns 54,237 shares of the company’s stock worth $516,000 after purchasing an additional 1,050 shares in the last quarter. Quent Capital LLC raised its holdings in Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after buying an additional 1,241 shares during the period. Finally, Arkadios Wealth Advisors lifted its stake in Amcor by 5.3% in the second quarter. Arkadios Wealth Advisors now owns 25,597 shares of the company’s stock valued at $250,000 after buying an additional 1,298 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMCR. Citigroup increased their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price target on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Robert W. Baird upped their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Stifel Nicolaus initiated coverage on Amcor in a report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective for the company. Finally, Wells Fargo & Company boosted their target price on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.94.

Amcor Price Performance

Shares of NYSE AMCR opened at $10.26 on Monday. Amcor plc has a fifty-two week low of $8.71 and a fifty-two week high of $11.48. The stock has a market capitalization of $14.83 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 2.00 and a beta of 0.85. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69. The business has a 50-day moving average of $11.13 and a 200-day moving average of $10.42.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 EPS. As a group, sell-side analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.1275 per share. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 4.97%. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio is 94.34%.

Amcor 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.