Commerce Bank Sells 38,205 Shares of Amcor plc (NYSE:AMCR)

Commerce Bank trimmed its stake in Amcor plc (NYSE:AMCR - Free Report) by 69.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,794 shares of the company's stock after selling 38,205 shares during the quarter. Commerce Bank's holdings in Amcor were worth $158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Amcor by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock valued at $555,064,000 after purchasing an additional 1,249,868 shares during the period. Barclays PLC grew its stake in shares of Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company's stock worth $51,484,000 after acquiring an additional 1,096,664 shares during the period. Franklin Resources Inc. increased its holdings in Amcor by 39.3% in the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company's stock worth $8,162,000 after acquiring an additional 203,166 shares during the last quarter. Van ECK Associates Corp bought a new stake in Amcor in the 4th quarter valued at about $2,605,000. Finally, Tidal Investments LLC raised its position in shares of Amcor by 292.5% in the third quarter. Tidal Investments LLC now owns 81,439 shares of the company's stock valued at $923,000 after purchasing an additional 60,691 shares during the period. 45.14% of the stock is owned by institutional investors.

Insider Activity at Amcor

In other news, Director Achal Agarwal acquired 10,000 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were purchased 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 of the company's stock, valued at $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Raymond James started coverage on shares of Amcor in a research note on Tuesday, April 22nd. They issued a "market perform" rating for the company. Truist Financial cut their price target on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and upped their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.31.

Amcor Price Performance

NYSE AMCR traded down $0.13 on Wednesday, reaching $9.20. 230,347,019 shares of the company's stock traded hands, compared to its average volume of 17,077,841. The stock has a market cap of $13.30 billion, a PE ratio of 16.73, a P/E/G ratio of 1.96 and a beta of 0.78. Amcor plc has a 12 month low of $8.37 and a 12 month high of $11.48. The stock has a 50-day simple moving average of $9.61 and a 200 day simple moving average of $9.94. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71.

Amcor (NYSE:AMCR - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business's revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 EPS. As a group, research analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.54%. Amcor's dividend payout ratio (DPR) is presently 92.73%.

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.