Amcor plc (NYSE:AMCR) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lessened its position in shares of Amcor plc (NYSE:AMCR) by 1.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,842 shares of the company’s stock after selling 1,545 shares during the period. Fulton Bank N.A.’s holdings in Amcor were worth $780,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in shares of Amcor during the 2nd quarter worth about $75,000. Caprock Group LLC lifted its position in shares of Amcor by 94.2% during the 2nd quarter. Caprock Group LLC now owns 20,274 shares of the company’s stock worth $198,000 after buying an additional 9,835 shares during the last quarter. Choreo LLC acquired a new position in shares of Amcor in the 2nd quarter valued at $103,000. United Services Automobile Association grew its position in shares of Amcor by 10.6% in the 2nd quarter. United Services Automobile Association now owns 32,352 shares of the company’s stock valued at $316,000 after buying an additional 3,094 shares during the last quarter. Finally, Andra AP fonden purchased a new stake in Amcor in the second quarter valued at $81,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AMCR shares. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $12.00 in a report on Monday. 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. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company lifted their target price on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Performance

Shares of AMCR opened at $9.55 on Friday. The stock has a market capitalization of $13.80 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.80 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The company’s fifty day moving average is $9.97 and its two-hundred day moving average is $10.45.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the company posted $0.16 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, sell-side analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were paid a $0.1275 dividend. The ex-dividend date was Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.34%. Amcor’s payout ratio is 96.23%.

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.