Elo Mutual Pension Insurance Co Cuts Stock Holdings in Amcor plc (NYSE:AMCR)

Elo Mutual Pension Insurance Co lessened its position in shares of Amcor plc (NYSE:AMCR) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 154,664 shares of the company’s stock after selling 2,360 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Amcor were worth $1,455,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Amcor by 275.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after acquiring an additional 4,851,222 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Amcor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after purchasing an additional 2,862,471 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Amcor in the fourth quarter valued at approximately $23,810,000. Vanguard Group Inc. increased its position in shares of Amcor by 2.2% in 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 in the last quarter. Finally, Barclays PLC raised its stake in shares of Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after buying an additional 1,096,664 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

NYSE:AMCR opened at $9.64 on Friday. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The stock has a market cap of $13.93 billion, a PE ratio of 17.52, a P/E/G ratio of 1.96 and a beta of 0.80. 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 stock has a 50 day moving average price of $9.93 and a 200 day moving average price of $10.24.

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 return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the business earned $0.09 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date was Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $12.00 in a research note on Monday, January 6th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Bank of America upgraded shares of 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 Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $12.00 in a report on Monday, January 6th. Three 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. Based on data from MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Insider Buying and Selling at Amcor

In other Amcor news, Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.60% of the stock is currently owned by company insiders.

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.