Schroder Investment Management Group Sells 3,284,293 Shares of Amcor plc (NYSE:AMCR)

Schroder Investment Management Group decreased its position in Amcor plc (NYSE:AMCR) by 95.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,232 shares of the company’s stock after selling 3,284,293 shares during the period. Schroder Investment Management Group’s holdings in Amcor were worth $1,338,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AMCR. Vanguard Group Inc. boosted its position in shares of Amcor by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock valued at $555,064,000 after buying an additional 1,249,868 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Amcor by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock valued at $433,358,000 after acquiring an additional 2,862,471 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Amcor by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock valued at $410,144,000 after acquiring an additional 697,320 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Amcor by 1.0% in the fourth quarter. JPMorgan Chase & Co. now owns 8,881,049 shares of the company’s stock worth $83,571,000 after acquiring an additional 86,456 shares during the period. Finally, Vest Financial LLC raised its holdings in shares of Amcor by 7.3% during the fourth quarter. Vest Financial LLC now owns 5,127,348 shares of the company’s stock valued at $48,248,000 after purchasing an additional 348,026 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Amcor Stock Down 3.7 %

NYSE AMCR opened at $9.22 on Monday. Amcor plc has a 52 week low of $8.80 and a 52 week 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 company has a market capitalization of $13.32 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The stock’s 50-day moving average price is $9.91 and its 200-day moving average price is $10.18.

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

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.53%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s dividend payout ratio is currently 92.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. 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. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and boosted their price target for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and an average target price of $11.46.

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.