Amcor plc (NYSE:AMCR) Shares Sold by Northeast Investment Management

Northeast Investment Management lowered its stake in shares of Amcor plc (NYSE:AMCR) by 7.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 264,850 shares of the company’s stock after selling 20,500 shares during the period. Northeast Investment Management’s holdings in Amcor were worth $2,492,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of AMCR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Amcor by 275.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock valued at $74,931,000 after acquiring an additional 4,851,222 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Amcor by 39,411.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock worth $31,855,000 after purchasing an additional 2,804,484 shares during the period. M&G PLC increased its holdings in shares of Amcor by 5.9% during the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after purchasing an additional 2,775,794 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Amcor by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after purchasing an additional 1,960,308 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Amcor by 94.8% in the 3rd quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock valued at $33,312,000 after purchasing an additional 1,430,545 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AMCR. Wells Fargo & Company lifted their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and increased their price target for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research report on Wednesday, December 11th. Finally, Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Three 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Performance

Shares of NYSE:AMCR opened at $10.03 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.74. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The firm has a market capitalization of $14.50 billion, a PE ratio of 18.24, a P/E/G ratio of 1.92 and a beta of 0.84. The business’s 50 day moving average price is $9.74 and its 200-day moving average price is $10.44.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share 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 company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the firm posted $0.09 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities research analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be issued a $0.1275 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.08%. Amcor’s payout ratio is 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.