Federated Hermes Inc. Cuts Stake in Amcor plc (NYSE:AMCR)

Federated Hermes Inc. trimmed its stake in Amcor plc (NYSE:AMCR) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,830,372 shares of the company’s stock after selling 41,830 shares during the quarter. Federated Hermes Inc. owned about 1.23% of Amcor worth $167,784,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AMCR. Jones Financial Companies Lllp boosted its holdings in Amcor by 247.4% in 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. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Amcor in the 4th quarter valued at about $44,000. Huntington National Bank lifted its stake in shares of Amcor by 52.4% in the 4th quarter. Huntington National Bank now owns 4,426 shares of the company’s stock valued at $42,000 after purchasing an additional 1,522 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Amcor during the 4th quarter worth about $60,000. Finally, Steward Partners Investment Advisory LLC increased its position in Amcor by 11,326.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock worth $69,000 after purchasing an additional 7,249 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMCR has been the topic of a number of recent research reports. 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 report on Monday, January 6th. Bank of America raised 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. Citigroup raised 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 report on Monday, January 6th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amcor presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

Insider Transactions at Amcor

In other news, Director Achal Agarwal purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the transaction, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

Amcor Trading Down 3.7 %

Shares of AMCR opened at $9.22 on Friday. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The stock has a 50-day moving average price of $9.91 and a 200 day moving average price of $10.19. 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 company has a market capitalization of $13.32 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR) last released its quarterly 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 the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 earnings per share. Sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were paid a $0.1275 dividend. 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 (DPR) is presently 92.73%.

Amcor Company 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.