OVERSEA CHINESE BANKING Corp Ltd Acquires 214,287 Shares of Amcor plc (NYSE:AMCR)

OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 41.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 731,063 shares of the company's stock after buying an additional 214,287 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned about 0.05% of Amcor worth $6,879,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock worth $27,000 after buying an additional 2,319 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock valued at $35,000 after purchasing an additional 2,660 shares in the last quarter. True Wealth Design LLC raised its stake in Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock valued at $38,000 after purchasing an additional 3,225 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Amcor in the fourth quarter valued at about $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in Amcor in the fourth quarter valued at about $60,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Amcor Trading Down 2.9 %

AMCR traded down $0.29 during trading on Friday, hitting $9.44. The company's stock had a trading volume of 61,912,768 shares, compared to its average volume of 12,257,052. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The stock's fifty day moving average price is $9.93 and its 200-day moving average price is $10.29. The firm has a market capitalization of $13.64 billion, a P/E ratio of 17.15, a PEG ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the firm earned $0.09 earnings per share. The company's revenue was down .3% compared to the same quarter last year. Analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date was Wednesday, February 26th. Amcor's payout ratio is 92.73%.

Insider Transactions at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $10.10 per share, for a total transaction 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. This represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by insiders.

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.