Amcor plc (NYSE:AMCR) Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC grew its holdings in shares of Amcor plc (NYSE:AMCR) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 136,806 shares of the company’s stock after acquiring an additional 5,498 shares during the quarter. Metis Global Partners LLC’s holdings in Amcor were worth $1,287,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after acquiring an additional 2,319 shares during the period. True Wealth Design LLC boosted its position in Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares during the period. Covestor Ltd lifted its holdings in shares of Amcor by 441.0% in the third quarter. Covestor Ltd now owns 7,963 shares of the company’s stock valued at $90,000 after buying an additional 6,491 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Amcor in the third quarter valued at $97,000. Finally, Graypoint LLC acquired a new stake in shares of Amcor in the fourth quarter valued at $97,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Down 0.1 %

Shares of NYSE AMCR opened at $10.11 on Tuesday. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48. The company has a market cap of $14.61 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 1.96 and a beta of 0.84. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The business has a fifty day simple moving average of $9.80 and a 200-day simple moving average of $10.40.

Amcor (NYSE:AMCR) last announced its 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 business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the prior year, the business posted $0.09 earnings per share. Amcor’s revenue was down .3% compared to the same quarter last year. Sell-side analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.04%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Insider Activity at Amcor

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of the company’s stock in a transaction that occurred 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 owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMCR shares. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Wednesday, December 11th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and upped their price objective for the company from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and upped their price objective for the company from $11.00 to $12.00 in a report on Monday, January 6th. Three 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.