Envestnet Portfolio Solutions Inc. Reduces Stock Position in Amcor plc (NYSE:AMCR)

Envestnet Portfolio Solutions Inc. decreased its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 6.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 657,834 shares of the company's stock after selling 47,737 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Amcor were worth $6,190,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AMCR. Larson Financial Group LLC increased its stake in shares of Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock valued at $27,000 after buying an additional 2,319 shares during the period. True Wealth Design LLC increased its position in Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock valued at $38,000 after purchasing an additional 3,225 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock valued at $35,000 after purchasing an additional 2,660 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Amcor in the 4th quarter valued at about $44,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Amcor in the 4th quarter worth approximately $60,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price 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 represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.60% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AMCR shares. Truist Financial raised shares of Amcor from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Citigroup raised Amcor from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. UBS Group upgraded shares of Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Finally, Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Amcor presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.46.

Amcor Stock Performance

NYSE:AMCR traded down $0.07 during mid-day trading on Wednesday, hitting $9.86. The company's stock had a trading volume of 12,135,198 shares, compared to its average volume of 11,893,327. The business's fifty day moving average is $9.92 and its two-hundred day moving average is $10.32. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The stock has a market cap of $14.24 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 1.96 and a beta of 0.80. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.16. The company had revenue of $3.24 billion for 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 business's revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. Analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were paid a $0.1275 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.18%. Amcor's dividend payout ratio 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.