Alliancebernstein L.P. Sells 188,187 Shares of Amcor plc (NYSE:AMCR)

Alliancebernstein L.P. cut its holdings in Amcor plc (NYSE:AMCR - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,834,936 shares of the company's stock after selling 188,187 shares during the period. Alliancebernstein L.P. owned about 0.13% of Amcor worth $17,267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp increased its stake in shares of Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock worth $35,000 after purchasing an additional 2,660 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Amcor during the 4th quarter worth $44,000. SBI Securities Co. Ltd. bought a new position in shares of Amcor during the 4th quarter worth $60,000. Steward Partners Investment Advisory LLC raised 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 acquiring an additional 7,249 shares during the period. Finally, Graypoint LLC bought a new position in Amcor during the fourth quarter worth about $97,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Up 0.9 %

Shares of Amcor stock traded up $0.09 during trading on Monday, hitting $9.42. The company's stock had a trading volume of 3,063,265 shares, compared to its average volume of 14,616,905. Amcor plc has a 52 week low of $8.37 and a 52 week high of $11.48. 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 company has a fifty day simple moving average of $9.79 and a two-hundred day simple moving average of $10.08. The company has a market capitalization of $13.61 billion, a PE ratio of 17.12, a P/E/G ratio of 1.96 and a beta of 0.78.

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

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor's dividend payout ratio is currently 92.73%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Achal Agarwal bought 10,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Amcor 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.