Amcor plc (NYSE:AMCR) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in Amcor plc (NYSE:AMCR - Free Report) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,009,679 shares of the company's stock after selling 88,683 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.07% of Amcor worth $9,501,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock valued at $555,064,000 after acquiring an additional 1,249,868 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Amcor by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock valued at $433,358,000 after purchasing an additional 2,862,471 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Amcor by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company's stock valued at $410,144,000 after purchasing an additional 697,320 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Amcor by 275.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company's stock valued at $74,931,000 after purchasing an additional 4,851,222 shares during the period. Finally, Vest Financial LLC boosted its holdings in Amcor by 7.3% during the fourth quarter. Vest Financial LLC now owns 5,127,348 shares of the company's stock worth $48,248,000 after buying an additional 348,026 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Amcor Price Performance

Shares of NYSE:AMCR traded down $0.16 during trading on Thursday, reaching $9.65. The stock had a trading volume of 6,310,686 shares, compared to its average volume of 13,315,237. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The stock has a market cap of $13.94 billion, a PE ratio of 17.54, a PEG ratio of 1.96 and a beta of 0.80. The business has a fifty day moving average price of $9.93 and a 200-day moving average price of $10.21.

Amcor (NYSE:AMCR - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company had revenue of $3.24 billion for the quarter, compared to analysts' expectations of $3.33 billion. During the same quarter in the previous year, the company posted $0.09 EPS. The firm's quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that Amcor plc will post 0.74 earnings per share 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 dividend of $0.1275 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.29%. Amcor's dividend payout ratio is presently 92.73%.

Insider Buying and Selling at Amcor

In related news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction dated 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 acquisition, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by insiders.

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.