Amcor plc (NYSE:AMCR) Stock Position Raised by Neuberger Berman Group LLC

Neuberger Berman Group LLC boosted its position in shares of Amcor plc (NYSE:AMCR) by 2.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 133,132 shares of the company’s stock after purchasing an additional 2,676 shares during the period. Neuberger Berman Group LLC’s holdings in Amcor were worth $1,253,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Amcor by 25.1% during the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock valued at $263,215,000 after buying an additional 5,614,233 shares in the last quarter. Invesco Ltd. boosted its position in Amcor by 16.0% during the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock worth $286,300,000 after acquiring an additional 4,199,209 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Amcor by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock valued at $433,358,000 after acquiring an additional 2,862,471 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Amcor during the 4th quarter valued at about $23,810,000. Finally, Vanguard Group Inc. increased its holdings in shares of Amcor by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock valued at $555,064,000 after purchasing an additional 1,249,868 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMCR shares. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $12.00 in a research note 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, Truist Financial raised Amcor from a “hold” rating to a “buy” rating and upped their target price for the stock from $10.00 to $12.00 in a research report 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.46.

Insider Buying and Selling

In other news, Director Achal Agarwal bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, for a total transaction 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. The trade was a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is owned by insiders.

Amcor Trading Up 3.5 %

Amcor stock opened at $9.34 on Friday. Amcor plc has a one year low of $8.37 and a one year high of $11.48. The company’s fifty day moving average price is $9.79 and its two-hundred day moving average price is $10.09. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The company has a market capitalization of $13.49 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.96 and a beta of 0.78.

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

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date was Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

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.