Price T Rowe Associates Inc. MD Acquires 85,978 Shares of Amcor plc (NYSE:AMCR)

Price T Rowe Associates Inc. MD boosted its holdings in Amcor plc (NYSE:AMCR) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,492,625 shares of the company’s stock after purchasing an additional 85,978 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.86% of Amcor worth $117,556,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Amcor by 31.8% during the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after purchasing an additional 1,096,664 shares during the period. Virtu Financial LLC bought a new stake in Amcor during the 3rd quarter valued at $372,000. Tidal Investments LLC boosted its position in Amcor by 292.5% during the 3rd quarter. Tidal Investments LLC now owns 81,439 shares of the company’s stock valued at $923,000 after buying an additional 60,691 shares during the period. Franklin Resources Inc. grew its holdings in Amcor by 39.3% in 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 during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Amcor by 5.7% in the third quarter. Principal Financial Group Inc. now owns 1,969,613 shares of the company’s stock valued at $22,316,000 after acquiring an additional 105,457 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Raymond James started coverage on Amcor in a research note on Tuesday, April 22nd. They issued a “market perform” rating on the stock. Truist Financial reduced their target price on Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and lifted their price target for the company from $11.00 to $12.00 in a report on Monday, January 6th. Four investment 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.31.

Insider Buying and Selling at Amcor

In other news, Director Achal Agarwal purchased 10,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was acquired 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. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.

Amcor Stock Performance

Shares of Amcor stock opened at $9.54 on Monday. Amcor plc has a 12 month low of $8.37 and a 12 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. The business has a fifty day simple moving average of $9.67 and a two-hundred day simple moving average of $9.96. The firm has a market capitalization of $13.79 billion, a P/E ratio of 17.35, a P/E/G ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The firm 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%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. On average, equities analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.1275 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.35%. Amcor’s payout ratio is 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.