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

Vanguard Group Inc. lifted its holdings in shares of Amcor plc (NYSE:AMCR) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,986,593 shares of the company’s stock after purchasing an additional 1,249,868 shares during the quarter. Vanguard Group Inc.’s holdings in Amcor were worth $555,064,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. True Wealth Design LLC raised its holdings in Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after buying an additional 3,225 shares during the period. Jones Financial Companies Lllp increased its position in shares of Amcor by 247.4% during 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 stake in shares of Amcor during the fourth quarter worth $44,000. SBI Securities Co. Ltd. bought a new stake in Amcor in the 4th quarter valued at $60,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in Amcor by 11,326.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock worth $69,000 after purchasing an additional 7,249 shares during the period. Institutional investors own 45.14% of the company’s stock.

Insider Activity

In related news, Director Achal Agarwal purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMCR. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research report on Wednesday, December 11th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and increased their target price for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Three 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Stock Performance

NYSE AMCR opened at $9.70 on Tuesday. The firm has a market capitalization of $14.01 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The firm’s fifty day moving average price is $9.93 and its two-hundred day moving average price is $10.22. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48.

Amcor (NYSE:AMCR) last issued its 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. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the business posted $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 EPS for the current year.

Amcor Announces Dividend

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

Amcor Company 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.