Renasant Bank Invests $132,000 in Amcor plc (NYSE:AMCR)

Renasant Bank purchased a new position in Amcor plc (NYSE:AMCR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,004 shares of the company’s stock, valued at approximately $132,000.

Other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC boosted its position in Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after purchasing an additional 2,319 shares during the period. True Wealth Design LLC boosted its holdings in Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after buying an additional 3,225 shares during the period. Jones Financial Companies Lllp grew its stake in Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after buying an additional 2,660 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Amcor during the 4th quarter valued at $44,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Amcor during the fourth quarter worth $60,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of Amcor stock opened at $9.79 on Friday. The firm has a market capitalization of $14.14 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48. The business’s 50-day moving average price is $9.90 and its 200-day moving average price is $10.35.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion for 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 business’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business earned $0.09 earnings per share. Sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio is presently 92.73%.

Insiders Place Their Bets

In related news, Director Achal Agarwal purchased 10,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the purchase, the director now directly owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

About Amcor

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.