Amcor plc (NYSE:AMCR) Stock Holdings Lifted by Wellington Management Group LLP

Wellington Management Group LLP boosted its holdings in Amcor plc (NYSE:AMCR - Free Report) by 25.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,971,885 shares of the company's stock after acquiring an additional 5,614,233 shares during the quarter. Wellington Management Group LLP owned 1.94% of Amcor worth $263,215,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AMCR. FMR LLC raised its stake in shares of Amcor by 5.6% during the third quarter. FMR LLC now owns 2,389,346 shares of the company's stock valued at $27,071,000 after purchasing an additional 126,844 shares in the last quarter. Townsquare Capital LLC increased its stake in Amcor by 10.6% during the 3rd quarter. Townsquare Capital LLC now owns 49,105 shares of the company's stock valued at $556,000 after buying an additional 4,700 shares during the period. Glenmede Trust Co. NA raised its position in shares of Amcor by 153.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 84,163 shares of the company's stock worth $954,000 after buying an additional 50,949 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Amcor by 275.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company's stock worth $74,931,000 after acquiring an additional 4,851,222 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Amcor by 13.3% in the third quarter. Public Sector Pension Investment Board now owns 62,922 shares of the company's stock valued at $713,000 after acquiring an additional 7,400 shares in the last quarter. Institutional investors own 45.14% of the company's stock.

Remove Ads

Amcor Trading Down 3.7 %

Shares of NYSE:AMCR traded down $0.36 during midday trading on Friday, reaching $9.22. The company had a trading volume of 48,492,246 shares, compared to its average volume of 13,630,714. The company has a fifty day simple moving average of $9.91 and a two-hundred day simple moving average of $10.18. The firm has a market cap of $13.32 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

Amcor (NYSE:AMCR - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm's quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. Research analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.53%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor's dividend payout ratio (DPR) is currently 92.73%.

Wall Street Analysts Forecast Growth

AMCR has been the topic of several recent analyst reports. UBS Group raised Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Truist Financial raised Amcor from a "hold" rating to a "buy" rating and raised their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Bank of America upgraded shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price target on the stock in a research report on Wednesday, December 11th. Finally, Citigroup upgraded shares of Amcor from a "neutral" rating to a "buy" rating and raised their price objective for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Amcor has a consensus rating of "Moderate Buy" and an average target price of $11.46.

Insider Activity

In other Amcor news, Director Achal Agarwal bought 10,000 shares of the company's 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 acquisition, the director now directly owns 88,967 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company's stock.

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.