Nisa Investment Advisors LLC Sells 55,805 Shares of Amcor plc (NYSE:AMCR)

Nisa Investment Advisors LLC reduced its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 34.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,693 shares of the company's stock after selling 55,805 shares during the quarter. Nisa Investment Advisors LLC's holdings in Amcor were worth $985,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in shares of Amcor during the 2nd quarter valued at approximately $192,000. Public Sector Pension Investment Board grew its stake in shares of Amcor by 72.3% during the second quarter. Public Sector Pension Investment Board now owns 55,522 shares of the company's stock worth $543,000 after buying an additional 23,299 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Amcor by 3.3% during the second quarter. Bank of Montreal Can now owns 1,124,134 shares of the company's stock worth $11,163,000 after buying an additional 35,940 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of Amcor by 464.2% in the 2nd quarter. Squarepoint Ops LLC now owns 221,169 shares of the company's stock valued at $2,163,000 after acquiring an additional 181,972 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Amcor by 356.1% during the 2nd quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company's stock valued at $28,659,000 after acquiring an additional 2,287,826 shares in the last quarter. Institutional investors own 45.14% of the company's stock.

Amcor Trading Down 0.8 %

Shares of Amcor stock traded down $0.08 on Tuesday, hitting $9.82. 12,623,013 shares of the company's stock traded hands, compared to its average volume of 15,874,409. The company has a fifty day moving average of $9.84 and a two-hundred day moving average of $10.46. Amcor plc has a one year low of $8.78 and a one year high of $11.48. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm posted $0.16 EPS. The company's quarterly revenue was down 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.20%. This is a positive change from Amcor's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, November 21st. Amcor's payout ratio is presently 96.23%.

Analyst Upgrades and Downgrades

Several equities analysts have 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 report on Wednesday, December 11th. Wells Fargo & Company lifted their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an "equal weight" rating in a research report on Tuesday, October 15th. Macquarie upgraded shares of Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Truist Financial upgraded shares of Amcor from a "hold" rating to a "buy" rating and lifted their price target for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Finally, UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.46.

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.