Aviva PLC Buys 475,709 Shares of Amcor plc (NYSE:AMCR)

Aviva PLC grew its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 140.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 815,039 shares of the company's stock after purchasing an additional 475,709 shares during the period. Aviva PLC owned approximately 0.06% of Amcor worth $7,670,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock worth $555,064,000 after purchasing an additional 1,249,868 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Amcor by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock valued at $433,358,000 after buying an additional 2,862,471 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Amcor by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company's stock valued at $345,952,000 after buying an additional 539,756 shares in the last quarter. Wellington Management Group LLP grew its position in Amcor by 25.1% in the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock worth $263,215,000 after acquiring an additional 5,614,233 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Amcor by 1.0% in the fourth quarter. JPMorgan Chase & Co. now owns 8,881,049 shares of the company's stock worth $83,571,000 after acquiring an additional 86,456 shares in the last quarter. Institutional investors own 45.14% of the company's stock.

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Analysts Set New Price Targets

Several research analysts have commented on AMCR shares. Truist Financial raised shares of Amcor from a "hold" rating to a "buy" rating and lifted their price target for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Finally, Citigroup upgraded shares of Amcor from a "neutral" rating to a "buy" rating and upped their price target for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Three research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.46.

Amcor Stock Performance

Shares of Amcor stock traded up $0.13 on Monday, hitting $9.46. 5,186,138 shares of the company's stock were exchanged, compared to its average volume of 14,622,478. Amcor plc has a 1 year low of $8.37 and a 1 year high of $11.48. The company has a 50-day simple moving average of $9.79 and a 200-day simple moving average of $10.08. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The stock has a market capitalization of $13.67 billion, a PE ratio of 17.20, a PEG ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts' consensus estimates of $0.16. The company had revenue of $3.24 billion for the quarter, compared to analysts' expectations of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm's revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 EPS. As a group, equities analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor's dividend payout ratio (DPR) is currently 92.73%.

Insider Activity

In other news, Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, the director now owns 88,967 shares of the company's stock, valued at $898,566.70. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.60% of the company's stock.

Amcor Company 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.