Swiss National Bank Has $38.42 Million Holdings in Amcor plc (NYSE:AMCR)

Swiss National Bank cut its holdings in shares of Amcor plc (NYSE:AMCR) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,083,092 shares of the company’s stock after selling 206,900 shares during the period. Swiss National Bank owned 0.28% of Amcor worth $38,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Prime Capital Investment Advisors LLC raised its position in shares of Amcor by 6.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock valued at $215,000 after acquiring an additional 1,085 shares during the period. CWA Asset Management Group LLC raised its position in shares of Amcor by 3.9% in 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 raised its position in shares of Amcor by 11.3% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company’s stock valued at $131,000 after acquiring an additional 1,409 shares during the period. New York Life Investment Management LLC raised its position in shares of Amcor by 0.8% in the 4th quarter. New York Life Investment Management LLC now owns 195,714 shares of the company’s stock valued at $1,842,000 after acquiring an additional 1,507 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Amcor by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company’s stock worth $4,161,000 after buying an additional 1,761 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMCR. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and upped their target price for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and upped their target price for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Three investment 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Trading Up 1.6 %

Shares of NYSE:AMCR opened at $9.79 on Monday. The company’s 50-day moving average price is $9.90 and its two-hundred day moving average price is $10.34. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The stock has a market capitalization of $14.14 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last issued 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 company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. Amcor’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 EPS. On average, equities analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.21%. Amcor’s payout ratio is 92.73%.

Insider Activity

In related news, Director Achal Agarwal purchased 10,000 shares of the 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 acquisition, the director now directly owns 88,967 shares in the company, valued at $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.60% of the stock is owned by insiders.

Amcor Company 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.