Amcor plc (NYSE:AMCR) Shares Bought by Korea Investment CORP

Korea Investment CORP raised its holdings in Amcor plc (NYSE:AMCR) by 51.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,069,675 shares of the company’s stock after purchasing an additional 365,273 shares during the quarter. Korea Investment CORP owned 0.07% of Amcor worth $10,066,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Amcor by 275.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after acquiring an additional 4,851,222 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Amcor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after purchasing an additional 2,862,471 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Amcor during the fourth quarter worth $23,810,000. Vanguard Group Inc. grew its stake in shares of Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock valued at $555,064,000 after buying an additional 1,249,868 shares in the last quarter. Finally, Barclays PLC grew 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 valued at $51,484,000 after buying an additional 1,096,664 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Insider Buying and Selling

In related news, Director Achal Agarwal acquired 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, the director now 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 can be accessed through this link. 0.60% of the stock is owned by company insiders.

Amcor Price Performance

Shares of AMCR opened at $9.70 on Tuesday. The firm has a market capitalization 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 firm’s fifty day simple moving average is $9.93 and its 200-day simple moving average is $10.22. Amcor plc has a twelve month low of $8.80 and a twelve month 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.

Amcor (NYSE:AMCR) last posted its quarterly 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 company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. Equities analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.26%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Bank of America upgraded 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. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and increased their target price for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Finally, UBS Group upgraded shares of 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amcor currently has an average rating of “Moderate Buy” and an average price target of $11.46.

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.