Swiss National Bank Lowers Stock Holdings in Amcor plc (NYSE:AMCR)

Swiss National Bank trimmed its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,083,092 shares of the company's stock after selling 206,900 shares during the period. Swiss National Bank owned 0.28% of Amcor worth $38,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock worth $27,000 after acquiring an additional 2,319 shares during the period. True Wealth Design LLC boosted its holdings in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock worth $38,000 after acquiring an additional 3,225 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock worth $35,000 after acquiring an additional 2,660 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Amcor in the fourth quarter worth $44,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Amcor in the fourth quarter worth $60,000. 45.14% of the stock is owned by institutional investors.

Amcor Trading Down 1.2 %

Shares of AMCR traded down $0.12 during trading hours on Thursday, hitting $9.73. The company had a trading volume of 29,157,155 shares, compared to its average volume of 12,012,000. 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 firm has a market cap of $14.06 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.96 and a beta of 0.80. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48. The stock's 50 day moving average price is $9.92 and its 200 day moving average price is $10.32.

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Amcor (NYSE:AMCR - Get Free Report) last posted 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. The company had revenue of $3.24 billion for the quarter, compared to analysts' expectations of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor's quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. On average, research analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were given 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 5.24%. Amcor's payout ratio is 92.73%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Macquarie raised Amcor from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 27th. Bank of America upgraded Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective on the stock in a research report on Wednesday, December 11th. Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Finally, Truist Financial upgraded Amcor from a "hold" rating to a "buy" rating and raised their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.46.

Insider Buying and Selling at Amcor

In other news, Director Achal Agarwal acquired 10,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the transaction, the director now owns 88,967 shares in the company, valued at $898,566.70. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 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.