Amcor PLC (NYSE:AMCR) Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its stake in shares of Amcor PLC (NYSE:AMCR) by 2.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,369 shares of the company’s stock after purchasing an additional 1,708 shares during the period. Fifth Third Bancorp’s holdings in Amcor were worth $644,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Quarry LP boosted its position in shares of Amcor by 2,064.5% during the 4th quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after purchasing an additional 3,551 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after buying an additional 2,660 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Amcor in the 4th quarter worth about $44,000. Huntington National Bank boosted its position in shares of Amcor by 52.4% in the 4th quarter. Huntington National Bank now owns 4,426 shares of the company’s stock worth $42,000 after buying an additional 1,522 shares in the last quarter. Finally, Menard Financial Group LLC purchased a new stake in shares of Amcor in the 4th quarter worth about $46,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMCR shares. Truist Financial decreased their price objective on shares of Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Raymond James Financial started coverage on shares of Amcor in a research report on Tuesday, April 22nd. They issued a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Amcor presently has a consensus rating of “Moderate Buy” and an average price target of $11.31.

Amcor Trading Down 1.2%

NYSE AMCR opened at $9.08 on Wednesday. Amcor PLC has a 12 month low of $8.37 and a 12 month high of $11.48. The company has a 50-day moving average of $9.24 and a 200-day moving average of $9.59. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.70 and a quick ratio of 1.16. The company has a market cap of $13.13 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.55 and a beta of 0.74.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Amcor had a net margin of 5.99% and a return on equity of 26.49%. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the prior year, the company posted $0.13 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts predict that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd were given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend was Thursday, May 22nd. Amcor’s dividend payout ratio (DPR) is presently 91.07%.

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.