Amcor plc (NYSE:AMCR) Shares Sold by National Pension Service

National Pension Service reduced its holdings in Amcor plc (NYSE:AMCR) by 7.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,609,413 shares of the company’s stock after selling 225,093 shares during the quarter. National Pension Service owned about 0.18% of Amcor worth $24,555,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Larson Financial Group LLC increased its stake in Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares in the last quarter. True Wealth Design LLC increased its stake in Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares in the last quarter. Covestor Ltd increased its stake in Amcor by 441.0% in the 3rd quarter. Covestor Ltd now owns 7,963 shares of the company’s stock valued at $90,000 after purchasing an additional 6,491 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Amcor in the 3rd quarter valued at approximately $97,000. Finally, Graypoint LLC purchased a new position in Amcor in the 4th quarter valued at approximately $97,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.11 on Friday. The company has a market cap of $14.61 billion, a P/E ratio of 18.37, a P/E/G ratio of 1.96 and a beta of 0.84. 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. The business has a fifty day simple moving average of $9.78 and a 200-day simple moving average of $10.41.

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

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Wednesday, February 26th. Amcor’s dividend payout ratio is currently 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.