Achal Agarwal Acquires 10,000 Shares of Amcor plc (NYSE:AMCR) Stock

Amcor plc (NYSE:AMCR) Director Achal Agarwal bought 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Amcor Trading Down 1.8 %

NYSE AMCR opened at $9.95 on Wednesday. The company has a market cap of $14.37 billion, a PE ratio of 18.08, a PEG ratio of 1.96 and a beta of 0.80. 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 plc has a 12 month low of $8.80 and a 12 month high of $11.48. The stock has a 50 day moving average of $9.81 and a 200-day moving average of $10.40.

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

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.13%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s payout ratio is presently 92.73%.

Institutional Investors Weigh In On Amcor

Large investors have recently made changes to their positions in the stock. Barclays PLC lifted its holdings in Amcor by 31.8% during the 3rd 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 last quarter. Franklin Resources Inc. lifted its holdings in Amcor by 39.3% during the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock valued at $8,162,000 after purchasing an additional 203,166 shares during the last quarter. Natixis Advisors LLC lifted its holdings in Amcor by 24.5% during the 3rd quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after purchasing an additional 124,945 shares during the last quarter. Cerity Partners LLC lifted its holdings in Amcor by 78.7% during 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 during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Amcor during the 3rd quarter valued at $5,919,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMCR shares. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research note on Wednesday, December 11th. Finally, Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Three equities research 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.com, the stock presently has a consensus 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.