Treasurer of the State of North Carolina Has $5.95 Million Stock Position in Amcor plc (NYSE:AMCR)

Treasurer of the State of North Carolina lifted its holdings in Amcor plc (NYSE:AMCR) by 0.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 632,469 shares of the company’s stock after acquiring an additional 3,970 shares during the period. Treasurer of the State of North Carolina’s holdings in Amcor were worth $5,952,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. CWA Asset Management Group LLC lifted its position in shares of Amcor by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock valued at $304,000 after acquiring an additional 1,213 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in Amcor by 11.3% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company’s stock worth $131,000 after purchasing an additional 1,409 shares during the period. New York Life Investment Management LLC grew its stake in Amcor by 0.8% during the fourth quarter. New York Life Investment Management LLC now owns 195,714 shares of the company’s stock worth $1,842,000 after buying an additional 1,507 shares in the last quarter. Huntington National Bank grew its stake in Amcor by 52.4% during the fourth quarter. Huntington National Bank now owns 4,426 shares of the company’s stock worth $42,000 after buying an additional 1,522 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Amcor by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company’s stock valued at $4,161,000 after buying an additional 1,761 shares during the period. 45.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on AMCR shares. 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. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and lifted their price target for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Three 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Insiders Place Their Bets

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the acquisition, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.60% of the company’s stock.

Amcor Trading Up 2.1 %

Shares of AMCR stock opened at $9.53 on Tuesday. Amcor plc has a 1-year low of $8.37 and a 1-year high of $11.48. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The stock has a market cap of $13.77 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.96 and a beta of 0.78. The stock has a 50-day moving average of $9.78 and a 200-day moving average of $10.07.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates 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 company’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 forecast 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. Shareholders of record on Wednesday, February 26th were given a dividend of $0.1275 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.35%. Amcor’s dividend payout ratio (DPR) 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.