Amcor plc (NYSE:AMCR) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. decreased its holdings in Amcor plc (NYSE:AMCR) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,303 shares of the company’s stock after selling 2,938 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Amcor were worth $615,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of AMCR. Allstate Corp acquired a new position in Amcor during the 4th quarter worth $413,000. DnB Asset Management AS boosted its stake in shares of Amcor by 4.5% in the 4th quarter. DnB Asset Management AS now owns 277,427 shares of the company’s stock valued at $2,611,000 after buying an additional 12,036 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Amcor by 0.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,948,702 shares of the company’s stock valued at $37,157,000 after buying an additional 29,635 shares during the period. Norges Bank acquired a new position in shares of Amcor during the fourth quarter worth about $6,223,000. Finally, AssuredPartners Investment Advisors LLC purchased a new stake in shares of Amcor during the fourth quarter worth approximately $580,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Insider Activity

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of the stock in a transaction on 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 acquisition, the director now 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

Amcor Stock Down 0.8 %

Shares of NYSE AMCR opened at $9.64 on Friday. The stock has a market cap of $13.93 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48. The business has a 50-day moving average price of $9.93 and a 200 day moving average price of $10.24. 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 (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate 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 company’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. Equities research analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. UBS Group upgraded 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 target price for the stock 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Amcor currently has an average rating of “Moderate Buy” and an average price target of $11.46.

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.