Nixon Peabody Trust Co. Reduces Position in Amcor plc (NYSE:AMCR)

Nixon Peabody Trust Co. trimmed its stake in Amcor plc (NYSE:AMCR) by 2.4% during the 4th quarter, Holdings Channel reports. The firm owned 101,467 shares of the company’s stock after selling 2,500 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Amcor were worth $955,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Metis Global Partners LLC increased its position in shares of Amcor by 4.2% in the fourth quarter. Metis Global Partners LLC now owns 136,806 shares of the company’s stock worth $1,287,000 after purchasing an additional 5,498 shares during the last quarter. SVB Wealth LLC bought a new position in Amcor during the fourth quarter valued at approximately $460,000. Argyle Capital Management LLC grew its position in Amcor by 5.7% during the fourth quarter. Argyle Capital Management LLC now owns 67,630 shares of the company’s stock valued at $636,000 after acquiring an additional 3,666 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Amcor during the fourth quarter valued at approximately $314,000. Finally, Mn Services Vermogensbeheer B.V. grew its position in Amcor by 5.4% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 586,437 shares of the company’s stock valued at $5,518,000 after acquiring an additional 30,300 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Performance

AMCR stock opened at $10.11 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The business’s fifty day simple moving average is $9.78 and its two-hundred day simple moving average is $10.41. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The firm has a market cap of $14.61 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.96 and a beta of 0.84.

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

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Wall Street Analyst Weigh In

AMCR has been the subject of a number of analyst reports. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and upped their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Three equities research 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. According to data from MarketBeat, Amcor currently has an average rating of “Moderate Buy” and a consensus target price of $11.46.

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.