Keybank National Association OH Has $217,000 Holdings in Amcor PLC $AMCR

Keybank National Association OH trimmed its position in shares of Amcor PLC (NYSE:AMCR) by 77.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 5,465 shares of the company’s stock after selling 19,024 shares during the period. Keybank National Association OH’s holdings in Amcor were worth $217,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AMCR. AdvisorNet Financial Inc bought a new position in shares of Amcor during the 1st quarter valued at $25,000. Root Financial Partners LLC acquired a new stake in shares of Amcor in the first quarter worth about $41,000. CENTRAL TRUST Co bought a new stake in shares of Amcor during the 1st quarter worth about $49,000. DV Equities LLC acquired a new position in shares of Amcor during the 4th quarter valued at about $27,000. Finally, Brown Lisle Cummings Inc. raised its stake in shares of Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of Amcor stock traded up $0.48 during midday trading on Friday, hitting $43.18. The company had a trading volume of 2,267,386 shares, compared to its average volume of 3,111,503. The business’s 50 day simple moving average is $40.21 and its two-hundred day simple moving average is $42.11. The stock has a market cap of $19.96 billion, a PE ratio of 30.19, a P/E/G 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. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the prior year, the company earned $0.90 EPS. The business’s quarterly revenue was up 77.4% compared to the same quarter last year. As a group, equities analysts predict that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

The business 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 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AMCR shares. Truist Financial reiterated a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. JPMorgan Chase & Co. lowered their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Citigroup dropped their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.00.

About Amcor

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.