Legal & General Group Plc cut its holdings in Amcor plc (NYSE:AMCR - Free Report) by 7.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,047,186 shares of the company's stock after selling 553,445 shares during the period. Legal & General Group Plc owned about 0.49% of Amcor worth $66,314,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of AMCR. Vanguard Group Inc. boosted its stake in Amcor by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock valued at $555,064,000 after buying an additional 1,249,868 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Amcor by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock worth $433,358,000 after acquiring an additional 2,862,471 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Amcor by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company's stock valued at $345,952,000 after purchasing an additional 539,756 shares in the last quarter. Invesco Ltd. boosted its position in Amcor by 16.0% during the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock worth $286,300,000 after acquiring an additional 4,199,209 shares during the period. Finally, Wellington Management Group LLP increased its stake in Amcor by 25.1% in the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock valued at $263,215,000 after buying an additional 5,614,233 shares during the period. 45.14% of the stock is currently owned by institutional investors.
Insider Activity at Amcor
In other news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the acquisition, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research firms have issued reports on AMCR. Citigroup upgraded shares of 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 research note on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Finally, Truist Financial raised shares of Amcor from a "hold" rating to a "buy" rating and upped their target price for the stock from $10.00 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $11.46.
View Our Latest Research Report on Amcor
Amcor Stock Down 1.0 %
Amcor stock traded down $0.09 during midday trading on Wednesday, reaching $9.27. The stock had a trading volume of 31,502,660 shares, compared to its average volume of 14,922,720. The stock has a market capitalization of $13.40 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The firm's fifty day simple moving average is $9.76 and its 200-day simple moving average is $10.06. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor plc has a 1-year low of $8.37 and a 1-year high of $11.48.
Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (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 company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the company earned $0.09 earnings per share. The firm's revenue was down .3% compared to the same quarter last year. As a group, analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.
Amcor Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.50%. Amcor's dividend payout ratio is 92.73%.
About Amcor
(
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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