Vanguard Group Inc. Acquires 1,249,868 Shares of Amcor plc (NYSE:AMCR)

Vanguard Group Inc. lifted its holdings in shares of Amcor plc (NYSE:AMCR) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 58,986,593 shares of the company’s stock after acquiring an additional 1,249,868 shares during the period. Vanguard Group Inc. owned approximately 4.08% of Amcor worth $555,064,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. True Wealth Design LLC lifted its stake in Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after buying an additional 2,660 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Amcor in the 4th quarter valued at $44,000. SBI Securities Co. Ltd. bought a new stake in Amcor in the fourth quarter valued at $60,000. Finally, Steward Partners Investment Advisory LLC raised its stake in Amcor by 11,326.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock worth $69,000 after acquiring an additional 7,249 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMCR. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and upped their target price for the stock from $11.00 to $12.00 in a report on Monday, January 6th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research note 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. Finally, Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Insider Buying and Selling

In other news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, with a total value of $101,000.00. Following the purchase, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by insiders.

Amcor Price Performance

Amcor stock opened at $9.70 on Tuesday. The stock has a market cap of $14.01 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 1.96 and a beta of 0.80. Amcor plc has a 12-month low of $8.80 and a 12-month high of $11.48. 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 business’s 50-day simple moving average is $9.93 and its 200 day simple moving average is $10.22.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the previous year, the company earned $0.09 EPS. Amcor’s revenue was down .3% on a year-over-year basis. As a group, research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were given a $0.1275 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.26%. Amcor’s dividend payout ratio is currently 92.73%.

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.