Cresset Asset Management LLC Sells 654,801 Shares of Amcor plc (NYSE:AMCR)

Cresset Asset Management LLC decreased its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 44.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 823,402 shares of the company's stock after selling 654,801 shares during the quarter. Cresset Asset Management LLC owned about 0.06% of Amcor worth $7,748,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Barclays PLC raised its stake in shares of Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company's stock worth $51,484,000 after purchasing an additional 1,096,664 shares during the period. Tidal Investments LLC grew its holdings in shares of Amcor by 292.5% during the third quarter. Tidal Investments LLC now owns 81,439 shares of the company's stock worth $923,000 after purchasing an additional 60,691 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Amcor by 39.3% during the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company's stock worth $8,162,000 after purchasing an additional 203,166 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Amcor by 5.7% during the third quarter. Principal Financial Group Inc. now owns 1,969,613 shares of the company's stock worth $22,316,000 after purchasing an additional 105,457 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its stake in Amcor by 3.9% in the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company's stock worth $304,000 after buying an additional 1,213 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Stock Performance

Shares of Amcor stock traded down $0.17 during trading hours on Tuesday, hitting $9.17. 13,416,520 shares of the company were exchanged, compared to its average volume of 17,976,672. Amcor plc has a 1 year low of $8.37 and a 1 year high of $11.48. 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 business has a 50-day moving average of $9.47 and a 200-day moving average of $9.81. The stock has a market capitalization of $13.25 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR - Get Free Report) 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. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 EPS. As a group, analysts expect 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 issued a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.56%. Amcor's dividend payout ratio (DPR) is 91.07%.

Insider Activity

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The stock was 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 $898,566.70. The trade was a 12.66% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.60% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on AMCR shares. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Truist Financial cut their price target on shares of Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James started coverage on Amcor in a research note on Tuesday, April 22nd. They set a "market perform" rating for the company. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.