Barclays PLC Lowers Stock Position in Amcor plc (NYSE:AMCR)

Barclays PLC decreased its holdings in Amcor plc (NYSE:AMCR - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,237,657 shares of the company's stock after selling 306,461 shares during the period. Barclays PLC owned 0.29% of Amcor worth $39,876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMCR. Wellington Management Group LLP grew its stake in Amcor by 25.1% in the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock worth $263,215,000 after purchasing an additional 5,614,233 shares in the last quarter. Invesco Ltd. raised its position in Amcor by 16.0% during the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock valued at $286,300,000 after purchasing an additional 4,199,209 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amcor by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock worth $433,358,000 after buying an additional 2,862,471 shares during the period. Raymond James Financial Inc. bought a new position in shares of Amcor during the 4th quarter worth $23,810,000. Finally, Vanguard Group Inc. increased its stake in shares of 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 during the period. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Stock Performance

AMCR stock remained flat at $9.56 during trading on Wednesday. 8,860,307 shares of the company were exchanged, compared to its average volume of 15,274,678. The firm has a market cap of $13.82 billion, a P/E ratio of 17.38, a price-to-earnings-growth 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 quick ratio of 0.71 and a current ratio of 1.26. The business has a fifty day simple moving average of $9.70 and a 200-day simple moving average of $10.00.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the previous year, the firm posted $0.09 earnings per share. The business's revenue for the quarter was down .3% compared to the same quarter last year. Sell-side analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date was Wednesday, February 26th. Amcor's dividend payout ratio is presently 92.73%.

Insider Transactions at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $10.10 per share, with a total value of $101,000.00. Following the transaction, the director now owns 88,967 shares of the company's stock, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AMCR shares. Truist Financial lowered their price objective on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday. Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and upped their price target for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Finally, Raymond James began coverage on Amcor in a research report on Tuesday. They set a "market perform" rating on the stock. Four 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. According to data from MarketBeat.com, the company 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.