Associated Banc Corp Decreases Stake in Amcor plc (NYSE:AMCR)

Associated Banc Corp reduced its holdings in Amcor plc (NYSE:AMCR) by 21.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,017 shares of the company’s stock after selling 70,158 shares during the period. Associated Banc Corp’s holdings in Amcor were worth $2,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Larson Financial Group LLC increased its position in Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after purchasing an additional 2,319 shares during the last quarter. 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 valued at $35,000 after acquiring an additional 2,660 shares during the last quarter. True Wealth Design LLC increased its position in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after acquiring an additional 3,225 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Amcor during the fourth quarter valued at about $44,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Amcor during the fourth quarter valued at about $60,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMCR has been the subject of several recent research reports. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research note 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 raised shares of Amcor from a “hold” rating to a “buy” rating and raised their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Stock Up 1.6 %

Shares of Amcor stock opened at $9.79 on Friday. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48. The company has a 50 day moving average of $9.90 and a 200 day moving average of $10.35. 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 $14.14 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.96 and a beta of 0.80.

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

Amcor Dividend Announcement

The business 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 dividend of $0.1275 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.21%. Amcor’s dividend payout ratio is presently 92.73%.

Insider Transactions at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the transaction, the director now owns 88,967 shares of the company’s stock, valued at $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

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.