Vanguard Group Inc. Has $555.06 Million Holdings in Amcor plc (NYSE:AMCR)

Vanguard Group Inc. raised its position in Amcor plc (NYSE:AMCR - Free Report) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,986,593 shares of the company's stock after purchasing an additional 1,249,868 shares during the quarter. Vanguard Group Inc. owned approximately 4.08% of Amcor worth $555,064,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AMCR. True Wealth Design LLC grew its stake in shares of Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock valued at $38,000 after buying an additional 3,225 shares in the last quarter. Jones Financial Companies Lllp grew its position in 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 in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Amcor during the 4th quarter worth $44,000. SBI Securities Co. Ltd. acquired a new position in shares of Amcor during the 4th quarter worth $60,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Amcor by 11,326.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock valued at $69,000 after purchasing an additional 7,249 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Performance

NYSE AMCR traded down $0.36 during trading on Friday, hitting $9.22. The company's stock had a trading volume of 48,492,246 shares, compared to its average volume of 13,630,714. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The firm has a market cap of $13.32 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The firm has a 50 day moving average price of $9.91 and a 200 day moving average price of $10.19. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80.

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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 analysts' consensus estimates of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Amcor's revenue was down .3% compared to the same quarter last year. Equities research analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors 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 yield of 5.53%. The ex-dividend date was Wednesday, February 26th. Amcor's dividend payout ratio (DPR) is presently 92.73%.

Insider Activity at Amcor

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were purchased 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 directly owns 88,967 shares of the company's stock, valued at approximately $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

AMCR has been the subject of a number of recent research reports. UBS Group upgraded shares of Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and upped their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Bank of America raised 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. Finally, Truist Financial upgraded Amcor from a "hold" rating to a "buy" rating and increased their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amcor currently has a consensus rating of "Moderate Buy" and an average target price of $11.46.

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.