Geode Capital Management LLC Acquires 539,756 Shares of Amcor plc (NYSE:AMCR)

Geode Capital Management LLC raised its holdings in shares of Amcor plc (NYSE:AMCR) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,856,793 shares of the company’s stock after purchasing an additional 539,756 shares during the period. Geode Capital Management LLC owned 2.55% of Amcor worth $345,952,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AMCR. CWA Asset Management Group LLC raised its stake in Amcor by 3.9% in the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock worth $304,000 after buying an additional 1,213 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Amcor by 11.3% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company’s stock worth $131,000 after acquiring an additional 1,409 shares in the last quarter. New York Life Investment Management LLC lifted its stake in shares of Amcor by 0.8% in the 4th quarter. New York Life Investment Management LLC now owns 195,714 shares of the company’s stock valued at $1,842,000 after purchasing an additional 1,507 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Amcor by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company’s stock valued at $4,161,000 after purchasing an additional 1,761 shares in the last quarter. Finally, IHT Wealth Management LLC grew its stake in Amcor by 7.1% in the third quarter. IHT Wealth Management LLC now owns 27,597 shares of the company’s stock worth $313,000 after purchasing an additional 1,831 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AMCR. 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. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amcor has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Stock Down 3.7 %

Amcor stock opened at $9.22 on Friday. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48. The stock has a fifty day simple moving average of $9.91 and a two-hundred day simple moving average of $10.19. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The firm has a market cap of $13.32 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 EPS. Equities analysts predict 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 was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were given a dividend of $0.1275 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.53%. Amcor’s dividend payout ratio (DPR) is 92.73%.

Insider Buying and Selling

In other news, Director Achal Agarwal purchased 10,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the acquisition, the director now directly 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by corporate insiders.

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.