Worldquant Millennium Advisors LLC Sells 87,065 Shares of Amcor plc (NYSE:AMCR)

Worldquant Millennium Advisors LLC trimmed its position in Amcor plc (NYSE:AMCR - Free Report) by 14.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 536,706 shares of the company's stock after selling 87,065 shares during the period. Worldquant Millennium Advisors LLC's holdings in Amcor were worth $5,050,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Utah Retirement Systems lifted its position in shares of Amcor by 1.1% during the 4th quarter. Utah Retirement Systems now owns 120,076 shares of the company's stock valued at $1,130,000 after acquiring an additional 1,300 shares during the last quarter. New York Life Investment Management LLC raised its stake in Amcor by 0.8% during the 4th quarter. New York Life Investment Management LLC now owns 195,714 shares of the company's stock valued at $1,842,000 after purchasing an additional 1,507 shares during the period. Huntington National Bank raised its stake in Amcor by 52.4% during the 4th quarter. Huntington National Bank now owns 4,426 shares of the company's stock valued at $42,000 after purchasing an additional 1,522 shares during the period. Blue Trust Inc. raised its stake in Amcor by 18.4% during the 4th quarter. Blue Trust Inc. now owns 12,254 shares of the company's stock valued at $115,000 after purchasing an additional 1,901 shares during the period. Finally, SlateStone Wealth LLC raised its stake in Amcor by 3.1% during the 4th quarter. SlateStone Wealth LLC now owns 66,550 shares of the company's stock valued at $626,000 after purchasing an additional 2,000 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMCR has been the topic of several recent analyst reports. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Truist Financial dropped their price target on shares of Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Raymond James initiated coverage on shares of Amcor in a research note on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amcor presently has a consensus rating of "Moderate Buy" and an average price target of $11.31.

Insider Transactions at Amcor

In other news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the transaction, the director now directly 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.60% of the company's stock.

Amcor Trading Up 2.0%

AMCR stock traded up $0.18 during midday trading on Tuesday, reaching $9.14. The company's stock had a trading volume of 11,202,482 shares, compared to its average volume of 30,948,033. The business's 50-day simple moving average is $9.32 and its 200-day simple moving average is $9.72. The stock has a market cap of $13.20 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. Amcor plc has a 52 week low of $8.37 and a 52 week high of $11.48. 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 (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting analysts' consensus estimates of $0.18. The company had revenue of $3.33 billion for the quarter, compared to analysts' expectations of $3.51 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.13 earnings per share. As a group, sell-side analysts expect that Amcor plc will post 0.74 EPS for the current 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 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 dividend yield of 5.58%. Amcor's dividend 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.