DoubleLine ETF Adviser LP Buys New Holdings in Amcor plc (NYSE:AMCR)

DoubleLine ETF Adviser LP purchased a new stake in Amcor plc (NYSE:AMCR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 160,033 shares of the company's stock, valued at approximately $1,506,000.

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

Amcor Trading Down 0.8 %

AMCR traded down $0.08 during midday trading on Wednesday, hitting $9.11. 15,633,879 shares of the company were exchanged, compared to its average volume of 17,572,759. The firm has a market capitalization of $13.16 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.96 and a beta of 0.78. The firm's 50 day moving average price is $9.54 and its 200-day moving average price is $9.87. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. 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 announced its earnings results on Wednesday, April 30th. The company reported $0.18 EPS 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 business had revenue of $3.33 billion for the quarter, compared to analysts' expectations of $3.51 billion. During the same period in the prior year, the business posted $0.13 earnings per share. The firm's revenue was down 2.3% on a year-over-year basis. As a group, equities analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd will be given a dividend of $0.1275 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.60%. 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 stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the acquisition, the director now owns 88,967 shares in the company, valued at $898,566.70. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMCR. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. 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 dropped their price objective 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 given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amcor presently has an average rating of "Moderate Buy" and a consensus 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.