Amcor plc (NYSE:AMCR) Position Reduced by Smith Moore & CO.

Smith Moore & CO. reduced its stake in shares of Amcor plc (NYSE:AMCR) by 8.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,460 shares of the company’s stock after selling 6,845 shares during the period. Smith Moore & CO.’s holdings in Amcor were worth $663,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Amcor by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock valued at $555,064,000 after acquiring an additional 1,249,868 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 valued at $433,358,000 after purchasing an additional 2,862,471 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Amcor by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company’s stock worth $345,952,000 after purchasing an additional 539,756 shares during the period. Wellington Management Group LLP lifted its position in shares of Amcor by 25.1% in the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock worth $263,215,000 after buying an additional 5,614,233 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Amcor by 1.0% in the 4th quarter. JPMorgan Chase & Co. now owns 8,881,049 shares of the company’s stock valued at $83,571,000 after buying an additional 86,456 shares during the period. Institutional investors own 45.14% of the company’s stock.

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 bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the transaction, the director now owns 88,967 shares in the company, valued at $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AMCR has been the topic of several research reports. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. 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 report on Monday, January 6th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Stock Down 3.7 %

Shares of Amcor stock opened at $9.22 on Friday. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The company has a market capitalization of $13.32 billion, a P/E ratio of 16.75, a PEG ratio of 1.96 and a beta of 0.78. The business’s fifty day moving average price is $9.91 and its two-hundred day moving average price is $10.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting 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 net margin of 5.89% and a return on equity of 26.14%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 earnings per share. As a group, research analysts forecast that Amcor plc will post 0.74 EPS for the current 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 paid 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 dividend yield of 5.53%. Amcor’s dividend payout ratio is presently 92.73%.

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.