Korea Investment CORP Acquires 365,273 Shares of Amcor plc (NYSE:AMCR)

Korea Investment CORP lifted its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 51.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,069,675 shares of the company's stock after purchasing an additional 365,273 shares during the period. Korea Investment CORP owned 0.07% of Amcor worth $10,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. True Wealth Design LLC lifted its holdings in Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock valued at $38,000 after purchasing an additional 3,225 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock valued at $35,000 after purchasing an additional 2,660 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Amcor during the 4th quarter worth about $44,000. SBI Securities Co. Ltd. bought a new stake in shares of Amcor during the 4th quarter worth about $60,000. Finally, Steward Partners Investment Advisory LLC grew its stake in Amcor by 11,326.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock valued at $69,000 after buying an additional 7,249 shares during the last quarter. 45.14% of the stock is owned by institutional investors.

Amcor Price Performance

AMCR traded down $0.36 on Friday, hitting $9.22. 48,492,246 shares of the stock were exchanged, compared to its average volume of 13,630,714. The firm has a market capitalization of $13.32 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 1.96 and a beta of 0.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48. The business has a 50-day moving average of $9.91 and a two-hundred day moving average of $10.19.

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Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm's quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. Sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a $0.1275 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.53%. Amcor's dividend payout ratio (DPR) is currently 92.73%.

Wall Street Analysts Forecast Growth

AMCR has been the subject of several research reports. Bank of America upgraded shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective for the company in a research report on Wednesday, December 11th. Citigroup raised Amcor from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. UBS Group raised Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Truist Financial raised Amcor from a "hold" rating to a "buy" rating and lifted their target price for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Three equities 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $11.46.

Insider Activity at Amcor

In other news, Director Achal Agarwal purchased 10,000 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now owns 88,967 shares of the company's stock, valued at approximately $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by insiders.

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.