Geode Capital Management LLC Has $345.95 Million Position in Amcor plc (NYSE:AMCR)

Geode Capital Management LLC lifted its position in Amcor plc (NYSE:AMCR - Free Report) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,856,793 shares of the company's stock after buying an additional 539,756 shares during the quarter. Geode Capital Management LLC owned about 2.55% of Amcor worth $345,952,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Amcor by 5.6% in the 3rd quarter. FMR LLC now owns 2,389,346 shares of the company's stock valued at $27,071,000 after purchasing an additional 126,844 shares during the period. Public Sector Pension Investment Board raised its stake in Amcor by 13.3% in the third quarter. Public Sector Pension Investment Board now owns 62,922 shares of the company's stock valued at $713,000 after buying an additional 7,400 shares during the period. Benjamin Edwards Inc. acquired a new stake in shares of Amcor in the third quarter valued at approximately $508,000. Centiva Capital LP acquired a new position in shares of Amcor during the 3rd quarter worth approximately $1,083,000. Finally, Hilltop Holdings Inc. raised its stake in Amcor by 105.7% in the 3rd quarter. Hilltop Holdings Inc. now owns 41,088 shares of the company's stock valued at $466,000 after acquiring an additional 21,117 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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Amcor Price Performance

AMCR stock traded down $0.21 during midday trading on Thursday, reaching $8.82. The company had a trading volume of 18,986,189 shares, compared to its average volume of 24,809,623. The company has a market capitalization of $12.74 billion, a price-to-earnings ratio of 16.05, 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 1-year low of $8.37 and a 1-year high of $11.48. The stock has a 50 day moving average price of $9.82 and a 200-day moving average price of $10.12.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm's quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. Equities research analysts expect 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 given a dividend of $0.1275 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.79%. Amcor's dividend payout ratio is currently 92.73%.

Insider Activity at Amcor

In related news, Director Achal Agarwal bought 10,000 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was 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 owns 88,967 shares of the company's stock, valued at $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by insiders.

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.