Amcor plc (NYSE:AMCR) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its holdings in shares of Amcor plc (NYSE:AMCR) by 22.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 875,887 shares of the company’s stock after selling 250,086 shares during the period. Voya Investment Management LLC owned approximately 0.06% of Amcor worth $8,242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AMCR. Jones Financial Companies Lllp raised its position in shares of Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after purchasing an additional 2,660 shares during the last quarter. Huntington National Bank lifted its position in shares of Amcor by 52.4% in the fourth quarter. Huntington National Bank now owns 4,426 shares of the company’s stock valued at $42,000 after acquiring an additional 1,522 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Amcor in the fourth quarter worth approximately $44,000. SBI Securities Co. Ltd. acquired a new stake in shares of Amcor in the fourth quarter worth approximately $60,000. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Amcor by 11,326.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock worth $69,000 after purchasing an additional 7,249 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of AMCR stock opened at $9.34 on Wednesday. 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 firm has a market cap of $13.50 billion, a P/E ratio of 16.98, a P/E/G ratio of 1.96 and a beta of 0.78. The firm’s 50 day moving average price is $9.64 and its 200-day moving average price is $9.94. Amcor plc has a one year low of $8.37 and a one year high of $11.48.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates 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 last year, the business posted $0.09 earnings per share. As a group, equities research analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.46%. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Insider Transactions at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction dated 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 owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

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

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.