Amcor plc (NYSE:AMCR) Shares Purchased by Lifeworks Advisors LLC

Lifeworks Advisors LLC raised its holdings in Amcor plc (NYSE:AMCR) by 34.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 490,753 shares of the company’s stock after purchasing an additional 125,754 shares during the period. Lifeworks Advisors LLC’s holdings in Amcor were worth $4,618,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Barclays PLC increased its stake in shares of Amcor by 31.8% in the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after buying an additional 1,096,664 shares during the last quarter. Franklin Resources Inc. grew its holdings in Amcor by 39.3% during the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock worth $8,162,000 after acquiring an additional 203,166 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Amcor by 24.5% in the 3rd quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock worth $7,190,000 after purchasing an additional 124,945 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Amcor by 78.7% in the 3rd quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock valued at $2,464,000 after purchasing an additional 95,805 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Amcor during the third quarter worth about $5,919,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the director now directly owns 88,967 shares in the company, valued at $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and boosted their price objective for the company from $10.00 to $12.00 in a report on Monday, January 6th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $11.00 to $12.00 in a report on Monday, January 6th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Wednesday, December 11th. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Three investment 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Price Performance

Shares of NYSE AMCR opened at $10.29 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The firm has a market capitalization of $14.87 billion, a PE ratio of 18.70, a P/E/G ratio of 1.96 and a beta of 0.80. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The business’s fifty day moving average price is $9.85 and its two-hundred day moving average price is $10.39.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations 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 last year, the company earned $0.09 EPS. On average, research analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.96%. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

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.