10,926 Shares in Amcor plc (NYSE:AMCR) Purchased by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR acquired a new position in shares of Amcor plc (NYSE:AMCR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,926 shares of the company’s stock, valued at approximately $103,000.

A number of other hedge funds have also modified their holdings of AMCR. Larson Financial Group LLC grew its holdings in shares of Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after buying an additional 2,319 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Amcor by 247.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after purchasing an additional 2,660 shares during the last quarter. True Wealth Design LLC boosted its position in Amcor by 3,794.1% during the third 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 during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Amcor during the fourth quarter valued at approximately $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in Amcor during the fourth quarter valued at approximately $60,000. 45.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Achal Agarwal acquired 10,000 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now directly 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by insiders.

Amcor Stock Performance

NYSE:AMCR opened at $9.44 on Friday. The stock has a market cap of $13.64 billion, a P/E ratio of 17.15, a PEG ratio of 1.96 and a beta of 0.80. The stock has a 50 day simple moving average of $9.93 and a 200 day simple moving average of $10.30. 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 1-year low of $8.80 and a 1-year high of $11.48.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations 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 period last year, the firm posted $0.09 EPS. Research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were issued a dividend of $0.1275 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.41%. Amcor’s payout ratio is currently 92.73%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMCR shares. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and increased their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their price target for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.