American Century Companies Inc. Cuts Position in Amcor plc (NYSE:AMCR)

American Century Companies Inc. decreased its stake in Amcor plc (NYSE:AMCR) by 2.5% in the 4th quarter, Holdings Channel reports. The firm owned 5,142,395 shares of the company’s stock after selling 131,454 shares during the quarter. American Century Companies Inc.’s holdings in Amcor were worth $48,390,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its holdings in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after buying an additional 2,319 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after acquiring an additional 2,660 shares during the period. True Wealth Design LLC increased its stake in Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Amcor during the fourth quarter worth $44,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Amcor during the fourth quarter worth $60,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Insider Buying and Selling at Amcor

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the transaction, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by company insiders.

Amcor Stock Up 1.7 %

AMCR opened at $9.61 on Thursday. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48. The business has a 50-day moving average of $9.93 and a two-hundred day moving average of $10.26. 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 $13.88 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80.

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

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were given a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is currently 92.73%.

Analyst Ratings Changes

AMCR has been the subject of a number of research analyst reports. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research report on Wednesday, December 11th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and boosted their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.46.

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.