Whittier Trust Co. of Nevada Inc. Cuts Stock Holdings in Amcor plc (NYSE:AMCR)

Whittier Trust Co. of Nevada Inc. lowered its stake in shares of Amcor plc (NYSE:AMCR) by 14.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,927 shares of the company’s stock after selling 1,719 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Amcor were worth $93,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC grew its stake in shares of 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 in the last quarter. True Wealth Design LLC grew its stake in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Amcor by 247.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after purchasing an additional 2,660 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Amcor during the fourth quarter worth $44,000. Finally, SBI Securities Co. Ltd. acquired a new position 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.

Analysts Set New Price Targets

A number of brokerages recently commented on AMCR. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and upped their price objective for the company from $11.00 to $12.00 in a research note on Monday, January 6th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Insider Buying and Selling

In other news, Director Achal Agarwal purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Amcor Price Performance

Shares of NYSE:AMCR opened at $9.44 on Monday. The company has a 50-day simple moving average of $9.93 and a 200-day simple moving average of $10.28. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The stock has a market capitalization of $13.64 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the company earned $0.09 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. On average, analysts predict that Amcor plc will post 0.74 EPS for the current 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 issued a dividend of $0.1275 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.41%. Amcor’s dividend payout ratio is currently 92.73%.

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.