Amcor plc (NYSE:AMCR) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC cut its position in Amcor plc (NYSE:AMCR - Free Report) by 31.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,038,289 shares of the company's stock after selling 471,706 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.07% of Amcor worth $9,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AMCR. Jones Financial Companies Lllp grew its holdings in Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock valued at $35,000 after buying an additional 2,660 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Amcor during the 4th quarter valued at about $44,000. Huntington National Bank grew its position in shares of Amcor by 52.4% during the fourth quarter. Huntington National Bank now owns 4,426 shares of the company's stock valued at $42,000 after purchasing an additional 1,522 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Amcor in the fourth quarter worth about $60,000. Finally, Steward Partners Investment Advisory LLC lifted its position 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 worth $69,000 after buying an additional 7,249 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Down 1.2 %

Shares of Amcor stock traded down $0.12 during trading on Friday, hitting $9.54. 25,821,230 shares of the stock traded hands, compared to its average volume of 15,578,190. Amcor plc has a 52-week low of $8.37 and a 52-week high of $11.48. The stock's fifty day simple moving average is $9.67 and its 200 day simple moving average is $9.98. The firm has a market cap of $13.79 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80.

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

Amcor Announces Dividend

The business also recently declared 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 of this dividend was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.35%. Amcor's dividend payout ratio is presently 92.73%.

Insider Transactions at Amcor

In other news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now directly owns 88,967 shares in the company, valued at $898,566.70. The trade was a 12.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on AMCR. Citigroup raised Amcor from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Raymond James started coverage on shares of Amcor in a research report on Tuesday. They set a "market perform" rating on the stock. Truist Financial reduced their price objective on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Four 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $11.31.

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.