Amcor plc (NYSE:AMCR) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC decreased its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 66.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,438,872 shares of the company's stock after selling 2,897,572 shares during the quarter. AQR Capital Management LLC owned approximately 0.10% of Amcor worth $13,511,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Jones Financial Companies Lllp raised its position in shares of Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock worth $35,000 after purchasing an additional 2,660 shares during the period. Quarry LP increased its position in Amcor by 2,064.5% in the fourth quarter. Quarry LP now owns 3,723 shares of the company's stock worth $35,000 after buying an additional 3,551 shares during the period. Huntington National Bank lifted its stake in Amcor by 52.4% in the fourth quarter. Huntington National Bank now owns 4,426 shares of the company's stock valued at $42,000 after buying an additional 1,522 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Amcor during the fourth quarter valued at $44,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Amcor during the fourth quarter worth about $60,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Stock Performance

NYSE:AMCR opened at $9.33 on Tuesday. 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 company has a 50-day moving average of $9.56 and a 200-day moving average of $9.88. Amcor plc has a twelve month low of $8.37 and a twelve month high of $11.48. The firm has a market cap of $13.49 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting analysts' consensus estimates of $0.18. The firm had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.51 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.13 earnings per share. Analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend is Thursday, May 22nd. Amcor's dividend payout ratio (DPR) is presently 91.07%.

Insider Activity

In other news, Director Achal Agarwal purchased 10,000 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the acquisition, the director now directly owns 88,967 shares of the company's stock, valued at $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AMCR shares. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Raymond James initiated coverage on Amcor in a research report on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Finally, Truist Financial reduced their price target on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $11.31.

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.

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