By otakuyassine3@gmail.com 
Corebridge Financial Inc. decreased its position in shares of Amcor plc (NYSE:AMCR – Free Report) by 4.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 342,183 shares of the company’s stock after selling 16,627 shares during the period. Corebridge Financial Inc.’s holdings in Amcor were worth $3,220,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in AMCR. CWA Asset Management Group LLC lifted its stake in Amcor by 3.9% during the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock worth $304,000 after purchasing an additional 1,213 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of Amcor by 11.3% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company’s stock worth $131,000 after buying an additional 1,409 shares during the last quarter. New York Life Investment Management LLC boosted its stake in Amcor by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 195,714 shares of the company’s stock valued at $1,842,000 after buying an additional 1,507 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Amcor by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company’s stock valued at $4,161,000 after acquiring an additional 1,761 shares during the last quarter. Finally, IHT Wealth Management LLC raised its stake in Amcor by 7.1% during the third quarter. IHT Wealth Management LLC now owns 27,597 shares of the company’s stock worth $313,000 after acquiring an additional 1,831 shares in the last quarter. 45.14% of the stock is owned by institutional investors.
Insider Buying and Selling at Amcor
In other Amcor news, Director Achal Agarwal bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the transaction, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.
Amcor Trading Up 0.6 %
Shares of AMCR stock opened at $9.70 on Tuesday. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. 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 stock has a market cap of $14.01 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.96 and a beta of 0.80. The stock has a 50-day moving average of $9.93 and a 200-day moving average of $10.22.
Amcor (NYSE:AMCR – Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting 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 company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS. On average, equities research analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.
Amcor Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.1275 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.26%. Amcor’s dividend payout ratio (DPR) is currently 92.73%.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on AMCR. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a report on Wednesday, December 11th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. 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 report on Monday, January 6th. 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 report on Monday, January 6th. Finally, UBS Group raised 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.
View Our Latest Report on AMCR
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.
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