Charles Schwab Investment Management Inc. Increases Stock Holdings in Amcor plc (NYSE:AMCR)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,052,929 shares of the company's stock after buying an additional 2,862,471 shares during the period. Charles Schwab Investment Management Inc. owned approximately 3.19% of Amcor worth $433,358,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC raised its holdings in Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock worth $27,000 after buying an additional 2,319 shares during the last quarter. True Wealth Design LLC raised its holdings in Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock worth $38,000 after buying an additional 3,225 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Amcor by 247.4% during the fourth 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 during the last quarter. SBI Securities Co. Ltd. acquired a new position in Amcor during the fourth quarter worth $60,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in Amcor by 11,326.6% during 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 during the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

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Insider Buying and Selling at Amcor

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMCR. Bank of America upgraded shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective on the stock in a report on Wednesday, December 11th. Citigroup upgraded shares of Amcor from a "neutral" rating to a "buy" rating and upped their target price for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Truist Financial upgraded 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 research note on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Finally, UBS Group upgraded shares of Amcor from a "hold" rating to a "strong-buy" rating in a research note 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 data from MarketBeat.com, Amcor presently has an average rating of "Moderate Buy" and an average target price of $11.46.

Amcor Stock Performance

AMCR traded up $0.18 during trading on Friday, hitting $10.29. 26,289,221 shares of the company traded hands, compared to its average volume of 21,028,664. The firm has a market cap of $14.87 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. The stock's fifty day moving average is $9.85 and its 200 day moving average is $10.39. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor plc has a one year low of $8.80 and a one year high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting 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 net margin of 5.89% and a return on equity of 26.14%. The firm's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. As a group, equities analysts predict 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 will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor's dividend payout ratio (DPR) is presently 92.73%.

Amcor Company 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.