JPMorgan Chase & Co. Raises Position in Amcor plc (NYSE:AMCR)

JPMorgan Chase & Co. grew its holdings in Amcor plc (NYSE:AMCR - Free Report) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,881,049 shares of the company's stock after purchasing an additional 86,456 shares during the quarter. JPMorgan Chase & Co. owned about 0.61% of Amcor worth $83,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWA Asset Management Group LLC lifted its stake in Amcor by 3.9% in the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company's stock valued at $304,000 after buying an additional 1,213 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in Amcor by 11.3% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company's stock worth $131,000 after acquiring an additional 1,409 shares in the last quarter. New York Life Investment Management LLC grew its holdings in Amcor by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 195,714 shares of the company's stock worth $1,842,000 after purchasing an additional 1,507 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Amcor by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company's stock valued at $4,161,000 after purchasing an additional 1,761 shares in the last quarter. Finally, IHT Wealth Management LLC increased its stake in Amcor by 7.1% in the third quarter. IHT Wealth Management LLC now owns 27,597 shares of the company's stock valued at $313,000 after purchasing an additional 1,831 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several analysts have recently commented on AMCR shares. Bank of America upgraded Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Truist Financial raised Amcor from a "hold" rating to a "buy" rating and raised their price objective for the company from $10.00 to $12.00 in a research note 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 Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Finally, Citigroup upgraded shares of 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 equities 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $11.46.

Amcor Stock Down 4.1 %

Shares of NYSE AMCR traded down $0.37 during trading on Tuesday, hitting $8.56. The stock had a trading volume of 42,825,348 shares, compared to its average volume of 13,985,068. The firm has a fifty day moving average of $9.84 and a two-hundred day moving average of $10.14. The company has a market capitalization of $12.36 billion, a PE ratio of 15.55, a PEG 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 $8.44 and a 12 month high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $3.24 billion for the quarter, compared to analysts' expectations of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business's revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. As a group, equities research analysts forecast 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 was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were paid a $0.1275 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.96%. Amcor's dividend payout ratio is 92.73%.

Insider Buying and Selling at Amcor

In other Amcor news, Director Achal Agarwal bought 10,000 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were acquired 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 $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.60% of the company's stock.

About Amcor

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.