Rockefeller Capital Management L.P. Takes $4.43 Million Position in Amcor plc (NYSE:AMCR)

Rockefeller Capital Management L.P. purchased a new position in shares of Amcor plc (NYSE:AMCR - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 470,362 shares of the company's stock, valued at approximately $4,426,000.

A number of other large investors also recently modified their holdings of the company. CWA Asset Management Group LLC increased its stake in Amcor by 3.9% in the 4th 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 grew its holdings in shares of Amcor by 11.3% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company's stock valued at $131,000 after acquiring an additional 1,409 shares in the last quarter. New York Life Investment Management LLC increased its stake in shares of 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 acquiring an additional 1,507 shares during the last quarter. Huntington National Bank raised its holdings in shares of Amcor by 52.4% during the fourth quarter. Huntington National Bank now owns 4,426 shares of the company's stock worth $42,000 after acquiring an additional 1,522 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew 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. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on AMCR. 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. Raymond James started coverage on shares of Amcor in a report on Tuesday. They issued a "market perform" rating for the company. Truist Financial cut their target price on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Four 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.com, Amcor currently has an average rating of "Moderate Buy" and a consensus price target of $11.31.

Amcor Price Performance

AMCR remained flat at $9.56 during trading on Wednesday. 8,860,307 shares of the company traded hands, compared to its average volume of 15,274,678. The stock has a market capitalization of $13.82 billion, a P/E ratio of 17.38, 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 1-year low of $8.37 and a 1-year high of $11.48. The stock has a 50 day moving average of $9.70 and a 200-day moving average of $10.00.

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

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.33%. The ex-dividend date was Wednesday, February 26th. Amcor's dividend payout ratio is 92.73%.

Insiders Place Their Bets

In other news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company's stock.

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.