Michael J. Zacka Sells 33,500 Shares of Amcor plc (NYSE:AMCR) Stock
Amcor plc (NYSE:AMCR – Get Rating) insider Michael J. Zacka sold 33,500 shares of Amcor stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $13.16, for a total value of $440,860.00. Following the completion of the sale, the insider now directly owns 172,270 shares in the company, valued at approximately $2,267,073.20. The sale was disclosed in a legal filing with the SEC, which is available at this link.
AMCR stock traded up $0.18 during midday trading on Thursday, hitting $13.37. 287,496 shares of the company’s stock were exchanged, compared to its average volume of 15,131,336. The company has a current ratio of 1.39, a quick ratio of 0.85 and a debt-to-equity ratio of 1.57. Amcor plc has a 12-month low of $10.66 and a 12-month high of $13.37. The firm has a 50 day moving average price of $12.19 and a 200-day moving average price of $11.89. The stock has a market capitalization of $20.09 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.65 and a beta of 0.77.
Amcor (NYSE:AMCR – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.40 billion. Amcor had a return on equity of 26.05% and a net margin of 6.75%. Amcor’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. On average, sell-side analysts forecast that Amcor plc will post 0.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 14th. Shareholders of record on Wednesday, May 25th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Tuesday, May 24th. Amcor’s dividend payout ratio is currently 77.42%.
A number of equities research analysts have commented on the company. TheStreet raised Amcor from a “c” rating to a “b” rating in a report on Friday, May 13th. Bank of America cut shares of Amcor from a “buy” rating to an “underperform” rating and dropped their target price for the company from $13.40 to $12.30 in a report on Friday, March 25th. Finally, Truist Financial assumed coverage on shares of Amcor in a report on Friday, March 25th. They issued a “hold” rating and a $12.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.76.
A number of large investors have recently added to or reduced their stakes in AMCR. State Street Corp raised its holdings in shares of Amcor by 10.2% during the first quarter. State Street Corp now owns 112,644,781 shares of the company’s stock worth $1,276,265,000 after purchasing an additional 10,472,157 shares during the period. Invesco Ltd. boosted its holdings in shares of Amcor by 40.9% during the first quarter. Invesco Ltd. now owns 27,078,220 shares of the company’s stock valued at $306,797,000 after acquiring an additional 7,854,257 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Amcor by 951.8% during the first quarter. Federated Hermes Inc. now owns 8,641,388 shares of the company’s stock valued at $97,907,000 after acquiring an additional 7,819,836 shares during the period. Norges Bank bought a new position in shares of Amcor in the fourth quarter valued at approximately $79,856,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Amcor in the first quarter valued at approximately $46,418,000. 43.56% of the stock is currently owned by institutional investors.
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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