Corebridge Financial Inc. Sells 16,627 Shares of Amcor plc (NYSE:AMCR)

Corebridge Financial Inc. decreased its position in Amcor plc (NYSE:AMCR) by 4.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 342,183 shares of the company’s stock after selling 16,627 shares during the period. Corebridge Financial Inc.’s holdings in Amcor were worth $3,220,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of AMCR. Cerity Partners LLC lifted its position in shares of Amcor by 78.7% in the third quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock worth $2,464,000 after purchasing an additional 95,805 shares in the last quarter. FMR LLC lifted its position in Amcor by 5.6% during the 3rd quarter. FMR LLC now owns 2,389,346 shares of the company’s stock worth $27,071,000 after buying an additional 126,844 shares in the last quarter. Townsquare Capital LLC boosted its stake in shares of Amcor by 10.6% during the 3rd quarter. Townsquare Capital LLC now owns 49,105 shares of the company’s stock worth $556,000 after buying an additional 4,700 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Amcor by 153.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 84,163 shares of the company’s stock valued at $954,000 after acquiring an additional 50,949 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Amcor by 275.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock valued at $74,931,000 after acquiring an additional 4,851,222 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Up 0.6 %

Shares of NYSE:AMCR opened at $9.70 on Tuesday. Amcor plc has a 12-month low of $8.80 and a 12-month high of $11.48. The business has a 50 day moving average of $9.93 and a 200-day moving average of $10.22. 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 has a market cap of $14.01 billion, a PE ratio of 17.63, a P/E/G ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last released 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. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. As a group, equities research analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.26%. The ex-dividend date was Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is 92.73%.

Insider Buying and Selling at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, with a total value 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. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AMCR shares. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and raised their price target for the company from $11.00 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 target price on the stock in a report on Wednesday, December 11th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and upped their price target for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.