First Citizens Bank & Trust Co. Has $6.23 Million Position in Amcor plc (NYSE:AMCR)

First Citizens Bank & Trust Co. grew its holdings in Amcor plc (NYSE:AMCR) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 641,730 shares of the company’s stock after purchasing an additional 21,051 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Amcor were worth $6,225,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Amcor by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock worth $555,064,000 after buying an additional 1,249,868 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Amcor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after buying an additional 2,862,471 shares in the last quarter. Geode Capital Management LLC grew its position in Amcor by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company’s stock worth $345,952,000 after buying an additional 539,756 shares in the last quarter. Invesco Ltd. grew its position in Amcor by 16.0% during the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock worth $286,300,000 after buying an additional 4,199,209 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Amcor by 25.1% during the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock worth $263,215,000 after buying an additional 5,614,233 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Performance

NYSE:AMCR opened at $9.12 on Monday. Amcor plc has a 1 year low of $8.37 and a 1 year high of $11.48. The firm has a 50 day moving average of $9.22 and a 200-day moving average of $9.65. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $13.18 billion, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73.

Amcor (NYSE:AMCR) last posted its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter in the previous year, the company posted $0.13 earnings per share. Amcor’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company 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 5.59%. The ex-dividend date is Thursday, May 22nd. Amcor’s dividend payout ratio (DPR) is currently 91.07%.

Analyst Ratings Changes

AMCR has been the subject of a number of analyst reports. Raymond James initiated coverage on shares of Amcor in a research note on Tuesday, April 22nd. They set 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 research note on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.31.

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.