Cetera Investment Advisers Sells 79,187 Shares of Amcor plc (NYSE:AMCR)

Cetera Investment Advisers lowered its position in Amcor plc (NYSE:AMCR - Free Report) by 23.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 265,105 shares of the company's stock after selling 79,187 shares during the period. Cetera Investment Advisers' holdings in Amcor were worth $2,495,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Centiva Capital LP lifted its position in shares of Amcor by 89.0% in the 4th quarter. Centiva Capital LP now owns 180,577 shares of the company's stock worth $1,699,000 after purchasing an additional 85,030 shares during the period. Bridgefront Capital LLC bought a new stake in Amcor during the fourth quarter worth $618,000. BNP Paribas Financial Markets raised its holdings in shares of Amcor by 39.2% in the fourth quarter. BNP Paribas Financial Markets now owns 3,053,774 shares of the company's stock valued at $28,736,000 after purchasing an additional 860,446 shares during the last quarter. AXA S.A. raised its holdings in shares of Amcor by 102.2% in the fourth quarter. AXA S.A. now owns 353,594 shares of the company's stock valued at $3,327,000 after purchasing an additional 178,711 shares during the last quarter. Finally, DoubleLine ETF Adviser LP purchased a new stake in shares of Amcor in the fourth quarter valued at about $1,506,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMCR. Raymond James began coverage on shares of Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating for the company. Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Finally, Truist Financial cut their price objective on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $11.31.

Insider Buying and Selling

In related news, Director Achal Agarwal purchased 10,000 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $898,566.70. The trade was a 12.66% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by insiders.

Amcor Price Performance

Shares of AMCR stock traded down $0.08 during trading hours on Friday, hitting $8.96. 24,950,157 shares of the company's stock were exchanged, compared to its average volume of 18,772,506. The company has a market capitalization of $12.94 billion, a PE ratio of 16.28, a PEG ratio of 1.96 and a beta of 0.78. Amcor plc has a 12-month low of $8.37 and a 12-month high of $11.48. The business's 50 day simple moving average is $9.34 and its 200-day simple moving average is $9.73. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80.

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

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd will be paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.70%. The ex-dividend date of this dividend is Thursday, May 22nd. Amcor's payout ratio is 91.07%.

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.