EA Series Trust Takes Position in Amcor plc (NYSE:AMCR)

Posted by Defense World Staff on Oct 24th, 2023

EA Series Trust acquired a new stake in Amcor plc (NYSE:AMCR – Free Report) in the second quarter, Holdings Channel.com reports. The firm acquired 22,908 shares of the company’s stock, valued at approximately $229,000.

Several other hedge funds also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its position in shares of Amcor by 117.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,397 shares of the company’s stock valued at $27,000 after purchasing an additional 1,296 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Amcor in the 1st quarter worth about $27,000. Money Concepts Capital Corp bought a new stake in shares of Amcor during the 4th quarter valued at about $31,000. Clear Street Markets LLC grew its holdings in shares of Amcor by 93.6% during the first quarter. Clear Street Markets LLC now owns 2,913 shares of the company’s stock worth $33,000 after purchasing an additional 1,408 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of Amcor by 697.2% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,504 shares of the company’s stock worth $51,000 after purchasing an additional 3,939 shares during the last quarter. Hedge funds and other institutional investors own 49.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bank of America cut shares of Amcor from a “buy” rating to an “underperform” rating in a research note on Monday, July 10th. TheStreet downgraded Amcor from a “b-” rating to a “c+” rating in a research report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.80.

Read Our Latest Stock Analysis on Amcor

Amcor Stock Performance

Amcor stock opened at $8.45 on Tuesday. The firm has a fifty day simple moving average of $9.20 and a two-hundred day simple moving average of $9.86. The company has a quick ratio of 0.69, a current ratio of 1.19 and a debt-to-equity ratio of 1.63. Amcor plc has a twelve month low of $8.45 and a twelve month high of $12.78. The company has a market capitalization of $12.22 billion, a PE ratio of 11.90, a P/E/G ratio of 9.35 and a beta of 0.80.

Amcor (NYSE:AMCR – Get Free Report) last released its quarterly earnings data on Wednesday, August 16th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.87 billion. Amcor had a return on equity of 25.98% and a net margin of 7.14%. Research analysts expect that Amcor plc will post 0.68 EPS for the current year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Shareholders of record on Thursday, September 7th were given a $0.1225 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $0.49 annualized dividend and a yield of 5.80%. Amcor’s payout ratio is currently 69.01%.

Insider Transactions at Amcor

In related news, Director Arun Nayar sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $9.40, for a total transaction of $282,000.00. Following the completion of the sale, the director now directly owns 45,072 shares in the company, valued at approximately $423,676.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.69% of the company’s stock.

Amcor Profile

(Free Report)

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.