American Century Companies Inc. Sells 131,454 Shares of Amcor plc (NYSE:AMCR)

American Century Companies Inc. decreased its position in Amcor plc (NYSE:AMCR - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,142,395 shares of the company's stock after selling 131,454 shares during the quarter. American Century Companies Inc. owned 0.36% of Amcor worth $48,390,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC boosted its stake in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock worth $27,000 after purchasing an additional 2,319 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock valued at $38,000 after buying an additional 3,225 shares during the last quarter. Jones Financial Companies Lllp lifted its position in 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 buying an additional 2,660 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Amcor during the 4th quarter worth about $44,000. Finally, SBI Securities Co. Ltd. bought a new stake in Amcor during the 4th quarter worth about $60,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMCR. Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Truist Financial raised Amcor from a "hold" rating to a "buy" rating and upped their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Bank of America raised Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Citigroup raised Amcor from a "neutral" rating to a "buy" rating and upped their price target for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $11.46.

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Amcor Trading Down 0.8 %

NYSE AMCR traded down $0.08 on Friday, reaching $9.64. The company had a trading volume of 21,951,054 shares, compared to its average volume of 13,050,138. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The stock's 50 day moving average is $9.93 and its 200-day moving average is $10.23. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The stock has a market cap of $13.93 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly 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 return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $3.33 billion. During the same period in the prior year, the business posted $0.09 EPS. Amcor's revenue was down .3% on a year-over-year basis. Equities analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors 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 5.29%. The ex-dividend date was Wednesday, February 26th. Amcor's payout ratio is presently 92.73%.

Insider Transactions at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by insiders.

About Amcor

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.