PNC Financial Services Group Inc. Has $2.40 Million Position in Amcor plc (NYSE:AMCR)

PNC Financial Services Group Inc. lessened its stake in shares of Amcor plc (NYSE:AMCR) by 0.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 254,553 shares of the company’s stock after selling 2,010 shares during the period. PNC Financial Services Group Inc.’s holdings in Amcor were worth $2,395,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC lifted its position in shares of Amcor by 3,410.3% during the 3rd 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 during the period. True Wealth Design LLC lifted its position in shares of Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after acquiring an additional 3,225 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after acquiring an additional 2,660 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Amcor during the 4th quarter valued at $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Amcor during the 4th quarter valued at $60,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Performance

NYSE AMCR opened at $9.79 on Friday. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The firm has a market cap of $14.14 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.96 and a beta of 0.80. The company has a fifty day moving average price of $9.90 and a 200-day moving average price of $10.35.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. As a group, equities research analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

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

Insider Activity at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is owned by company insiders.

Amcor Company 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.