First Trust Advisors LP Acquires 4,462,367 Shares of Amcor plc (NYSE:AMCR)

First Trust Advisors LP boosted its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 474.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,402,490 shares of the company's stock after acquiring an additional 4,462,367 shares during the quarter. First Trust Advisors LP owned about 0.37% of Amcor worth $50,837,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC raised its holdings in Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company's stock valued at $51,484,000 after buying an additional 1,096,664 shares during the period. Virtu Financial LLC bought a new position in Amcor during the third quarter valued at $372,000. Sanctuary Advisors LLC lifted its holdings in shares of Amcor by 7.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 53,132 shares of the company's stock worth $557,000 after acquiring an additional 3,559 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Amcor by 292.5% during the 3rd quarter. Tidal Investments LLC now owns 81,439 shares of the company's stock worth $923,000 after purchasing an additional 60,691 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Amcor by 39.3% during the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company's stock valued at $8,162,000 after purchasing an additional 203,166 shares during the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amcor

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the director now owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by insiders.

Amcor Stock Up 2.7 %

Shares of NYSE AMCR opened at $9.56 on Wednesday. Amcor plc has a 12-month low of $8.37 and a 12-month high of $11.48. The stock's fifty day simple moving average is $9.70 and its two-hundred day simple moving average is $10.00. The stock has a market capitalization of $13.82 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 return on equity of 26.14% and a net margin of 5.89%. The firm's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share. As a group, analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

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

Wall Street Analyst Weigh In

AMCR has been the subject of several analyst reports. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Truist Financial dropped their price objective on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday. 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. Finally, Raymond James began coverage on Amcor in a research report on Tuesday. They set a "market perform" rating for the company. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $11.31.

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.

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