Franklin Resources Inc. decreased its holdings in Amcor plc (NYSE:AMCR - Free Report) by 16.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 601,958 shares of the company's stock after selling 117,791 shares during the period. Franklin Resources Inc.'s holdings in Amcor were worth $5,664,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its holdings 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 in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Amcor in the 4th quarter valued at about $44,000. SBI Securities Co. Ltd. acquired a new position in shares of Amcor in the 4th quarter valued at $60,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Amcor by 11,326.6% in the fourth 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. Finally, Graypoint LLC acquired a new stake in Amcor during the 4th quarter worth approximately $97,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Amcor
In other news, Director Achal Agarwal purchased 10,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on AMCR. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Truist Financial raised Amcor from a "hold" rating to a "buy" rating and increased their price target for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, Citigroup upgraded 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 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.com, Amcor has a consensus rating of "Moderate Buy" and an average price target of $11.46.
Read Our Latest Research Report on AMCR
Amcor Stock Down 0.7 %
Shares of NYSE:AMCR traded down $0.07 during midday trading on Tuesday, reaching $9.48. The company had a trading volume of 6,562,862 shares, compared to its average volume of 14,746,042. The stock's fifty day moving average price is $9.78 and its 200-day moving average price is $10.07. The stock has a market capitalization of $13.69 billion, a P/E ratio of 17.23, a PEG ratio of 1.96 and a beta of 0.78. Amcor plc has a one year low of $8.37 and a one year high of $11.48. 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 (NYSE:AMCR - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business's revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. Equities research analysts expect that Amcor plc will post 0.74 earnings per share 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 dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.38%. The ex-dividend date was Wednesday, February 26th. Amcor's dividend payout ratio (DPR) is presently 92.73%.
Amcor Company Profile
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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.
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