Amcor plc (NYSE:AMCR) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its stake in shares of Amcor plc (NYSE:AMCR) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 258,927 shares of the company’s stock after selling 19,835 shares during the quarter. M&T Bank Corp’s holdings in Amcor were worth $2,496,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank purchased a new stake in Amcor during the 3rd quarter worth about $43,187,000. Invesco Ltd. increased its stake in shares of Amcor by 14.9% during the third quarter. Invesco Ltd. now owns 20,531,344 shares of the company’s stock worth $188,067,000 after buying an additional 2,664,715 shares during the period. FMR LLC raised its holdings in Amcor by 315.0% in the third quarter. FMR LLC now owns 1,816,174 shares of the company’s stock valued at $16,636,000 after acquiring an additional 1,378,594 shares in the last quarter. CBOE Vest Financial LLC lifted its stake in Amcor by 106.3% in the third quarter. CBOE Vest Financial LLC now owns 2,251,643 shares of the company’s stock worth $20,625,000 after acquiring an additional 1,160,061 shares during the last quarter. Finally, Vest Financial LLC grew its holdings in Amcor by 38.2% during the 4th quarter. Vest Financial LLC now owns 3,110,645 shares of the company’s stock worth $29,987,000 after acquiring an additional 859,002 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their price objective on shares of Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st.

Amcor Price Performance

AMCR stock opened at $10.22 on Thursday. The business has a 50 day moving average price of $9.27 and a 200 day moving average price of $9.32. The company has a quick ratio of 0.75, a current ratio of 1.29 and a debt-to-equity ratio of 1.76. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 5.48 and a beta of 0.79. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $10.45.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter in the previous year, the firm earned $0.18 EPS. The company’s revenue was down 7.0% compared to the same quarter last year. Equities research analysts anticipate that Amcor plc will post 0.69 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd will be paid a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.50 dividend on an annualized basis and a yield of 4.89%. Amcor’s dividend payout ratio is presently 111.11%.

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.