Amcor plc (NYSE:AMCR) Shares Sold by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. trimmed its holdings in Amcor plc (NYSE:AMCR) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 562,220 shares of the company’s stock after selling 47,030 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Amcor were worth $5,290,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings 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 acquiring an additional 1,249,868 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Amcor by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock valued at $433,358,000 after purchasing an additional 2,862,471 shares in the last quarter. Geode Capital Management LLC boosted its stake in Amcor by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company’s stock valued at $345,952,000 after purchasing an additional 539,756 shares in the last quarter. Invesco Ltd. increased its position in shares of Amcor by 16.0% during the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock valued at $286,300,000 after purchasing an additional 4,199,209 shares during the period. Finally, Wellington Management Group LLP raised its position in Amcor by 25.1% in the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock worth $263,215,000 after acquiring an additional 5,614,233 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Price Performance

Shares of NYSE:AMCR opened at $9.56 on Wednesday. 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 stock has a market capitalization of $13.82 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.96 and a beta of 0.78. The business has a 50-day moving average of $9.70 and a two-hundred day moving average of $10.00. Amcor plc has a fifty-two week low of $8.37 and a fifty-two week high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were given 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 5.33%. Amcor’s dividend payout ratio is presently 92.73%.

Insider Activity

In other news, Director Achal Agarwal acquired 10,000 shares of the firm’s stock in a transaction dated 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 acquisition, the director now owns 88,967 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Truist Financial lowered their price objective on shares of Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Raymond James initiated coverage on shares of Amcor in a report on Tuesday. They set a “market perform” rating on the stock. Four 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.31.

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.