Royal Bank of Canada Has $20.36 Million Position in Amcor plc (NYSE:AMCR)

Royal Bank of Canada reduced its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 15.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,163,779 shares of the company's stock after selling 400,114 shares during the period. Royal Bank of Canada owned 0.15% of Amcor worth $20,361,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMCR. Vanguard Group Inc. boosted its holdings in Amcor by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock valued at $555,064,000 after purchasing an additional 1,249,868 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amcor by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock worth $433,358,000 after acquiring an additional 2,862,471 shares during the period. Geode Capital Management LLC increased its position in shares of Amcor by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company's stock worth $345,952,000 after purchasing an additional 539,756 shares in the last quarter. Invesco Ltd. increased its position in shares of Amcor by 16.0% during the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock worth $286,300,000 after purchasing an additional 4,199,209 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Amcor by 25.1% during the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock worth $263,215,000 after purchasing an additional 5,614,233 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Achal Agarwal acquired 10,000 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were purchased 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 directly owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AMCR shares. Truist Financial lowered 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. Raymond James started coverage on shares of Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating for the company. Finally, Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Four 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $11.31.

Amcor Stock Down 1.5%

Shares of AMCR stock traded down $0.14 during trading on Wednesday, reaching $9.03. The company's stock had a trading volume of 28,053,190 shares, compared to its average volume of 18,903,095. The business has a fifty day moving average price of $9.31 and a 200-day moving average price of $9.71. 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 company has a market cap of $13.05 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. Amcor plc has a one year low of $8.37 and a one year high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, hitting analysts' consensus estimates of $0.18. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates 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 firm posted $0.13 earnings per share. Analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

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 issued a dividend of $0.1275 per share. The ex-dividend date is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.65%. Amcor's payout ratio is 91.07%.

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.