Amcor plc (NYSE:AMCR) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its stake in shares of Amcor plc (NYSE:AMCR) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 636,046 shares of the company’s stock after selling 2,743 shares during the quarter. Ameriprise Financial Inc.’s holdings in Amcor were worth $5,985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. AXA S.A. raised its position in shares of Amcor by 102.2% during the 4th quarter. AXA S.A. now owns 353,594 shares of the company’s stock worth $3,327,000 after purchasing an additional 178,711 shares during the period. DoubleLine ETF Adviser LP acquired a new stake in Amcor in the 4th quarter valued at approximately $1,506,000. Appian Way Asset Management LP acquired a new stake in Amcor in the 4th quarter valued at approximately $16,995,000. One68 Global Capital LLC acquired a new stake in Amcor in the 4th quarter valued at approximately $395,000. Finally, Parvin Asset Management LLC acquired a new stake in Amcor in the 4th quarter valued at approximately $1,533,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on AMCR. Raymond James began coverage on Amcor in a research report on Tuesday, April 22nd. They issued a “market perform” rating on the stock. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Truist Financial lowered their target price on Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Four research 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.31.

Amcor Stock Performance

Shares of NYSE AMCR opened at $8.96 on Friday. The stock has a fifty day moving average price of $9.34 and a two-hundred day moving average price of $9.73. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The firm has a market cap of $12.94 billion, a P/E ratio of 16.28, a PEG ratio of 1.96 and a beta of 0.78. Amcor plc has a 1 year low of $8.37 and a 1 year high of $11.48.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.51 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.13 EPS. Research analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.70%. The ex-dividend date is Thursday, May 22nd. Amcor’s dividend payout ratio is presently 91.07%.

Insider Transactions at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the purchase, the director now directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.