Amcor plc (NYSE:AMCR) Director Achal Agarwal Buys 10,000 Shares of Stock

Amcor plc (NYSE:AMCR) Director Achal Agarwal acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now directly owns 88,967 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink.

Amcor Stock Performance

Shares of NYSE AMCR opened at $10.11 on Tuesday. The firm’s 50-day moving average price is $9.80 and its 200-day moving average price is $10.40. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The company has a market cap of $14.61 billion, a PE ratio of 18.38, a PEG ratio of 1.96 and a beta of 0.84. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48.

Amcor (NYSE:AMCR) last issued 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. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the prior year, the business earned $0.09 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. As a group, analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Analyst Ratings Changes

Several brokerages recently commented on AMCR. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Finally, 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. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Hedge Funds Weigh In On Amcor

Several institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC raised its stake in Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after acquiring an additional 2,319 shares during the period. True Wealth Design LLC raised its stake in Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares during the period. Quarry LP raised its stake in Amcor by 2,064.5% during the 4th quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after acquiring an additional 3,551 shares during the period. Jones Financial Companies Lllp raised its stake in Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after acquiring an additional 2,660 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Amcor during the fourth quarter valued at approximately $44,000. Institutional investors own 45.14% of the company’s stock.

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.