Legacy Private Trust Co. Has $2.13 Million Stock Holdings in Amcor plc (NYSE:AMCR)

Legacy Private Trust Co. cut its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 60.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 219,343 shares of the company's stock after selling 335,500 shares during the quarter. Legacy Private Trust Co.'s holdings in Amcor were worth $2,128,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AMCR. Barclays PLC increased its stake in Amcor by 31.8% in the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company's stock worth $51,484,000 after purchasing an additional 1,096,664 shares during the period. Blue Trust Inc. increased its position in Amcor by 18.4% during the fourth quarter. Blue Trust Inc. now owns 12,254 shares of the company's stock valued at $115,000 after acquiring an additional 1,901 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Amcor by 22.9% during the fourth quarter. Pacer Advisors Inc. now owns 208,271 shares of the company's stock valued at $1,960,000 after purchasing an additional 38,869 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Amcor by 12.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 550,677 shares of the company's stock worth $5,182,000 after acquiring an additional 60,049 shares during the period. Finally, Forsta AP Fonden boosted its stake in shares of Amcor by 3.1% in the fourth quarter. Forsta AP Fonden now owns 683,600 shares of the company's stock worth $6,433,000 after acquiring an additional 20,600 shares during the period. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AMCR shares. Raymond James started coverage on Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating on the stock. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Finally, Truist Financial dropped their price objective on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Amcor presently has an average rating of "Moderate Buy" and a consensus price target of $11.31.

Amcor Stock Performance

Amcor stock traded up $0.07 on Tuesday, reaching $9.10. 9,222,745 shares of the stock were exchanged, compared to its average volume of 19,092,016. The stock has a market cap of $13.15 billion, a PE ratio of 16.55, a PEG ratio of 1.96 and a beta of 0.78. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. Amcor plc has a twelve month low of $8.37 and a twelve month high of $11.48. The firm has a fifty day moving average price of $9.27 and a two-hundred day moving average price of $9.68.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly 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 had revenue of $3.33 billion for the quarter, compared to analysts' expectations of $3.51 billion. During the same period in the prior year, the firm earned $0.13 earnings per share. Amcor's revenue was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd will be issued a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.60%. Amcor's dividend payout ratio is currently 91.07%.

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.