First County Bank CT Reduces Holdings in Amcor plc (NYSE:AMCR)

First County Bank CT reduced its position in Amcor plc (NYSE:AMCR) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,632 shares of the company’s stock after selling 5,567 shares during the period. First County Bank CT’s holdings in Amcor were worth $354,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Larson Financial Group LLC raised its holdings in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of Amcor in the 3rd quarter valued at about $35,000. ORG Wealth Partners LLC bought a new position in shares of Amcor during the third quarter worth about $35,000. True Wealth Design LLC grew its stake in Amcor by 3,794.1% in 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. Finally, Signaturefd LLC increased its holdings in Amcor by 296.3% in the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after buying an additional 3,242 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

NYSE AMCR traded up $0.10 on Tuesday, hitting $9.53. The stock had a trading volume of 10,361,104 shares, compared to its average volume of 13,572,245. The company’s 50-day moving average is $10.06 and its two-hundred day moving average is $10.46. Amcor plc has a one year low of $8.78 and a one year high of $11.48. The stock has a market cap of $13.77 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 1.80 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80.

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

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were issued a dividend of $0.1275 per share. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 5.35%. Amcor’s payout ratio is presently 96.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AMCR shares. Wells Fargo & Company boosted their price target on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $11.00 to $12.00 in a research note on Monday. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $12.00 in a research report on Monday. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Finally, Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

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.