Swiss National Bank Sells 206,900 Shares of Amcor plc (NYSE:AMCR)

Swiss National Bank reduced its stake in Amcor plc (NYSE:AMCR) by 4.8% during the 4th quarter, Holdings Channel reports. The fund owned 4,083,092 shares of the company’s stock after selling 206,900 shares during the period. Swiss National Bank’s holdings in Amcor were worth $38,422,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in shares of Amcor by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after purchasing an additional 2,862,471 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Amcor by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock worth $410,144,000 after purchasing an additional 697,320 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Amcor by 275.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after purchasing an additional 4,851,222 shares in the last quarter. Vest Financial LLC grew its position in shares of Amcor by 7.3% during the 4th quarter. Vest Financial LLC now owns 5,127,348 shares of the company’s stock worth $48,248,000 after purchasing an additional 348,026 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after purchasing an additional 1,096,664 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Insider Activity

In other news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now directly 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 document filed with the SEC, which is available at this link. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMCR. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Wednesday, December 11th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and increased their price target for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Three 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Amcor Price Performance

Shares of NYSE:AMCR opened at $9.79 on Monday. The company has a market cap of $14.14 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.96 and a beta of 0.80. 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 firm has a 50 day simple moving average of $9.90 and a 200 day simple moving average of $10.34. Amcor plc has a one year low of $8.80 and a one year high of $11.48.

Amcor (NYSE:AMCR) last issued 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 business 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%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 EPS. Research analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.21%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is currently 92.73%.

Amcor 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.