Voya Investment Management LLC Sells 250,086 Shares of Amcor plc (NYSE:AMCR)

Voya Investment Management LLC lessened its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 22.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 875,887 shares of the company's stock after selling 250,086 shares during the period. Voya Investment Management LLC owned 0.06% of Amcor worth $8,242,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock valued at $35,000 after purchasing an additional 2,660 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in Amcor during the fourth quarter valued at about $44,000. Huntington National Bank grew its holdings 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 acquiring an additional 1,522 shares during the period. SBI Securities Co. Ltd. bought a new stake in Amcor in the fourth quarter worth about $60,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Amcor by 11,326.6% in the 4th 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 during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMCR has been the topic of a number of research reports. Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and increased their price objective for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Raymond James initiated coverage on Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating on the stock. 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 investment 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $11.31.

Amcor Stock Up 2.8 %

Shares of AMCR traded up $0.25 during trading hours on Friday, reaching $9.33. The company's stock had a trading volume of 39,425,774 shares, compared to its average volume of 17,323,566. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The firm has a market cap of $13.49 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 1.96 and a beta of 0.78. The company has a 50 day moving average of $9.57 and a two-hundred day moving average of $9.91. Amcor plc has a 1-year low of $8.37 and a 1-year high of $11.48.

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

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be paid 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 92.73%.

Insider Activity

In related news, Director Achal Agarwal acquired 10,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, with a total value of $101,000.00. Following the acquisition, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by corporate insiders.

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.