Amcor plc (NYSE:AMCR) Shares Sold by National Pension Service

National Pension Service lowered its position in Amcor plc (NYSE:AMCR) by 7.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,609,413 shares of the company’s stock after selling 225,093 shares during the quarter. National Pension Service’s holdings in Amcor were worth $24,555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMCR. Larson Financial Group LLC boosted its holdings in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares during the last quarter. True Wealth Design LLC boosted its holdings in Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after acquiring an additional 3,225 shares during the last quarter. Covestor Ltd boosted its holdings in Amcor by 441.0% in the third quarter. Covestor Ltd now owns 7,963 shares of the company’s stock valued at $90,000 after acquiring an additional 6,491 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Amcor in the third quarter valued at $97,000. Finally, Graypoint LLC acquired a new position in shares of Amcor during the fourth quarter worth about $97,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Up 0.4 %

Shares of NYSE AMCR opened at $10.11 on Friday. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The firm has a market cap of $14.61 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.96 and a beta of 0.84. 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 stock’s 50-day simple moving average is $9.78 and its 200-day simple moving average is $10.41.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting 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 period in the previous year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.05%. The ex-dividend date is Wednesday, February 26th. Amcor’s dividend payout ratio is currently 92.73%.

Analysts Set New Price Targets

A number of research analysts have commented on AMCR shares. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

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.