Amcor plc (NYSE:AMCR) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc trimmed its stake in shares of Amcor plc (NYSE:AMCR) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 642,289 shares of the company’s stock after selling 26,160 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Amcor were worth $6,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMCR. Ethic Inc. lifted its holdings in Amcor by 146.1% during the 4th quarter. Ethic Inc. now owns 116,360 shares of the company’s stock worth $1,095,000 after buying an additional 69,075 shares during the last quarter. Deutsche Bank AG lifted its holdings in Amcor by 51.3% during the 4th quarter. Deutsche Bank AG now owns 8,061,242 shares of the company’s stock worth $75,856,000 after buying an additional 2,734,369 shares during the last quarter. Eminence Capital LP purchased a new stake in Amcor during the 4th quarter worth about $27,065,000. Crestline Management LP purchased a new stake in Amcor during the 4th quarter worth about $1,391,000. Finally, Caption Management LLC purchased a new stake in Amcor during the 4th quarter worth about $2,060,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Trading Down 1.7%

Shares of AMCR stock opened at $9.18 on Wednesday. The business’s 50 day moving average is $9.45 and its two-hundred day moving average is $9.81. Amcor plc has a twelve month low of $8.37 and a twelve month high of $11.48. The company has a market capitalization of $13.27 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. 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 (NYSE:AMCR) last announced its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period last year, the business posted $0.13 EPS. The company’s revenue was down 2.3% on a year-over-year basis. Equities analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd will be paid a $0.1275 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $0.51 annualized dividend and a dividend yield of 5.56%. Amcor’s dividend payout ratio (DPR) is currently 91.07%.

Insiders Place Their Bets

In other Amcor news, Director Achal Agarwal bought 10,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the transaction, the director now owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This trade represents a 12.66% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Raymond James started coverage on Amcor in a report on Tuesday, April 22nd. They set a “market perform” rating for the company. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Truist Financial reduced their target price on Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.31.

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.