Amcor plc (NYSE:AMCR) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in Amcor plc (NYSE:AMCR) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 439,324 shares of the company’s stock after purchasing an additional 3,993 shares during the period. Victory Capital Management Inc.’s holdings in Amcor were worth $4,134,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Larson Financial Group LLC boosted its stake in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after buying an additional 2,319 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after acquiring an additional 3,225 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after acquiring an additional 2,660 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Amcor in the fourth quarter valued at $60,000. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Amcor by 11,326.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock valued at $69,000 after acquiring an additional 7,249 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and upped their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.46.

Insider Activity

In related news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the director now owns 88,967 shares in the company, valued at $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 can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.

Amcor Stock Performance

Shares of NYSE:AMCR opened at $9.79 on Friday. The firm has a market capitalization of $14.14 billion, a PE ratio of 17.79, a P/E/G 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 business has a 50-day moving average of $9.90 and a two-hundred day moving average of $10.35. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. As a group, research analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

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

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.