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

Prudential Financial Inc. trimmed its holdings in shares of Amcor plc (NYSE:AMCR) by 16.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,811 shares of the company’s stock after selling 33,754 shares during the period. Prudential Financial Inc.’s holdings in Amcor were worth $1,776,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings 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 valued at $35,000 after acquiring an additional 2,660 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Amcor in the fourth quarter worth about $44,000. SBI Securities Co. Ltd. acquired a new stake in shares of Amcor in the fourth quarter valued at about $60,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Amcor by 11,326.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock valued at $69,000 after buying an additional 7,249 shares during the period. Finally, Graypoint LLC acquired a new position in Amcor during the 4th quarter worth approximately $97,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Trading Down 3.7 %

NYSE:AMCR opened at $9.22 on Friday. The company has a market cap of $13.32 billion, a PE ratio of 16.75, a P/E/G ratio of 1.96 and a beta of 0.78. The business’s 50 day moving average is $9.91 and its two-hundred day moving average is $10.19. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48.

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

Amcor Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Analysts Set New Price Targets

AMCR has been the subject of several recent research reports. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and raised their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research note on Wednesday, December 11th. Three equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Insider Activity

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. This represents a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.