Federated Hermes Inc. Sells 41,830 Shares of Amcor plc (NYSE:AMCR)

Federated Hermes Inc. trimmed its stake in Amcor plc (NYSE:AMCR - Free Report) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,830,372 shares of the company's stock after selling 41,830 shares during the quarter. Federated Hermes Inc. owned approximately 1.23% of Amcor worth $167,784,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its stake in Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock valued at $35,000 after buying an additional 2,660 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Amcor in the 4th quarter valued at $44,000. Huntington National Bank lifted its holdings in Amcor by 52.4% during the 4th quarter. Huntington National Bank now owns 4,426 shares of the company's stock valued at $42,000 after purchasing an additional 1,522 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Amcor during the fourth quarter worth $60,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Amcor by 11,326.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock valued at $69,000 after purchasing an additional 7,249 shares during the last quarter. Institutional investors own 45.14% of the company's stock.

Amcor Price Performance

Shares of AMCR stock traded up $0.23 on Friday, hitting $9.25. 36,093,360 shares of the company's stock were exchanged, compared to its average volume of 14,456,828. The stock has a market cap of $13.36 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a 12 month low of $8.37 and a 12 month high of $11.48. The company has a 50 day moving average of $9.81 and a 200 day moving average of $10.10.

Remove Ads

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. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business's revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm posted $0.09 earnings per share. On average, equities research analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor's dividend payout ratio (DPR) is currently 92.73%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Truist Financial upgraded 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 report on Monday, January 6th. Finally, Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and increased their target price for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Three 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.46.

Insiders Place Their Bets

In other Amcor news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now directly owns 88,967 shares of the company's stock, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company's stock.

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.