Amcor plc (NYSE:AMCR) Shares Sold by LPL Financial LLC

LPL Financial LLC trimmed its position in Amcor plc (NYSE:AMCR - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,780,179 shares of the company's stock after selling 94,871 shares during the quarter. LPL Financial LLC owned 0.12% of Amcor worth $16,751,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC lifted its holdings in shares of Amcor by 5.6% during the 3rd quarter. FMR LLC now owns 2,389,346 shares of the company's stock valued at $27,071,000 after acquiring an additional 126,844 shares in the last quarter. Townsquare Capital LLC lifted its stake in shares of Amcor by 10.6% during the third quarter. Townsquare Capital LLC now owns 49,105 shares of the company's stock worth $556,000 after purchasing an additional 4,700 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in shares of Amcor by 153.4% during the third quarter. Glenmede Trust Co. NA now owns 84,163 shares of the company's stock worth $954,000 after purchasing an additional 50,949 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Amcor by 275.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company's stock worth $74,931,000 after buying an additional 4,851,222 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in shares of 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 in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Amcor

In other news, Director Achal Agarwal acquired 10,000 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, with a total value of $101,000.00. Following the acquisition, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

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

Amcor Stock Down 3.7 %

Shares of AMCR traded down $0.36 during midday trading on Friday, hitting $9.22. The company had a trading volume of 48,492,246 shares, compared to its average volume of 13,630,714. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The company's 50 day moving average price is $9.91 and its 200 day moving average price is $10.18. The stock has a market cap of $13.32 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the company earned $0.09 earnings per share. Amcor's quarterly revenue was down .3% on a year-over-year basis. On average, equities research analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.53%. The ex-dividend date was Wednesday, February 26th. Amcor's dividend payout ratio (DPR) is 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.