Citizens National Bank Trust Department Takes $1.25 Million Position in Amcor PLC $AMCR

Key Points

• Citizens National Bank Trust Department opened a new position in Amcor, buying 31,474 shares worth about $1.25 million in the first quarter.
• Amcor’s latest quarterly results came in roughly in line with expectations, with EPS of $0.96 and revenue of $5.91 billion, topping analysts’ sales estimate.
• The company recently paid a quarterly dividend of $0.65 per share, implying an annualized yield of about 6.0%, while analysts currently rate the stock Moderate Buy with an average target price of $48.

Citizens National Bank Trust Department acquired a new stake in shares of Amcor PLC (NYSE:AMCR - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 31,474 shares of the company's stock, valued at approximately $1,251,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp grew its holdings in Amcor by 1.7% during the 4th quarter. State Street Corp now owns 141,509,581 shares of the company's stock valued at $1,180,190,000 after buying an additional 2,432,340 shares in the last quarter. M&G PLC lifted its holdings in shares of Amcor by 6.1% in the fourth quarter. M&G PLC now owns 114,989,595 shares of the company's stock worth $919,917,000 after buying an additional 6,655,611 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Amcor by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company's stock worth $945,222,000 after buying an additional 1,845,627 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Amcor by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company's stock valued at $701,356,000 after acquiring an additional 2,036,667 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Amcor by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company's stock valued at $533,487,000 after acquiring an additional 262,418 shares during the period. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Trading Down 0.0%

Shares of Amcor stock opened at $43.18 on Monday. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The firm has a market cap of $19.96 billion, a PE ratio of 30.19, a PEG ratio of 1.22 and a beta of 0.62. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The company has a 50 day simple moving average of $40.21 and a two-hundred day simple moving average of $42.11.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts' consensus estimates of $0.96. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business's revenue for the quarter was up 77.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 EPS. Analysts expect that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor's dividend payout ratio is currently 181.82%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a research note on Wednesday, April 1st. They set a "buy" rating and a $50.00 price objective for the company. JPMorgan Chase & Co. cut their price target on shares of Amcor from $50.00 to $44.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Wells Fargo & Company set a $41.00 price target on shares of Amcor and gave the company an "equal weight" rating in a research report on Wednesday, May 20th. Truist Financial reaffirmed a "buy" rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded Amcor from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $48.00.

Amcor Profile

Amcor NYSE: AMCR is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company's product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor's packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.

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