Amcor plc (NYSE:AMCR) EVP Sells $683,318.40 in Stock

Amcor plc (NYSE:AMCRGet Rating) EVP Ian Wilson sold 54,060 shares of Amcor stock in a transaction on Friday, May 6th. The stock was sold at an average price of $12.64, for a total value of $683,318.40. Following the completion of the transaction, the executive vice president now owns 150,138 shares in the company, valued at $1,897,744.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of AMCR stock traded down $0.07 on Tuesday, reaching $12.54. 393,390 shares of the company’s stock traded hands, compared to its average volume of 9,048,536. Amcor plc has a 12-month low of $10.66 and a 12-month high of $13.18. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.73 and a current ratio of 1.39. The company has a market capitalization of $18.98 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 1.61 and a beta of 0.78. The business’s 50 day moving average price is $11.62 and its two-hundred day moving average price is $11.79.

Amcor (NYSE:AMCRGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.20. Amcor had a return on equity of 26.05% and a net margin of 6.75%. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. Amcor’s revenue for the quarter was up 15.6% compared to the same quarter last year. Research analysts predict that Amcor plc will post 0.81 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 14th. Shareholders of record on Wednesday, May 25th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, May 24th. This represents a $0.48 dividend on an annualized basis and a yield of 3.83%. Amcor’s dividend payout ratio (DPR) is currently 77.42%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Eagle Bay Advisors LLC purchased a new position in Amcor in the third quarter valued at about $31,000. D Orazio & Associates Inc. purchased a new position in Amcor in the third quarter valued at about $32,000. Marshall Wace LLP purchased a new position in Amcor in the fourth quarter valued at about $32,000. Baystate Wealth Management LLC purchased a new position in Amcor in the fourth quarter valued at about $36,000. Finally, Concord Wealth Partners grew its stake in Amcor by 111.7% in the fourth quarter. Concord Wealth Partners now owns 3,118 shares of the company’s stock valued at $37,000 after purchasing an additional 1,645 shares in the last quarter. Hedge funds and other institutional investors own 43.56% of the company’s stock.

A number of brokerages recently issued reports on AMCR. Bank of America cut Amcor from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $13.40 to $12.30 in a report on Friday, March 25th. TheStreet cut Amcor from a “b-” rating to a “c” rating in a report on Thursday, February 24th. Finally, Truist Financial began coverage on Amcor in a report on Friday, March 25th. They issued a “hold” rating and a $12.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.76.

Amcor Company Profile (Get Rating)

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.

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