Amcor plc (NYSE:AMCR) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 16.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,195,118 shares of the company's stock after selling 230,455 shares during the quarter. Hsbc Holdings PLC owned about 0.08% of Amcor worth $11,192,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Optivise Advisory Services LLC purchased a new stake in shares of Amcor in the 4th quarter valued at $99,000. Tower Research Capital LLC TRC boosted its holdings in shares of Amcor by 8.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 58,297 shares of the company's stock valued at $549,000 after acquiring an additional 4,329 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Amcor by 1.8% in the 4th quarter. MetLife Investment Management LLC now owns 382,425 shares of the company's stock valued at $3,599,000 after acquiring an additional 6,729 shares during the last quarter. Norinchukin Bank The boosted its holdings in shares of Amcor by 17.6% in the 4th quarter. Norinchukin Bank The now owns 77,455 shares of the company's stock valued at $729,000 after acquiring an additional 11,592 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Amcor by 11.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,700,717 shares of the company's stock valued at $175,967,000 after acquiring an additional 1,886,794 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMCR. Raymond James began coverage on shares of Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and increased their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Finally, Truist Financial lowered 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. 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $11.31.

Amcor Price Performance

NYSE:AMCR traded down $0.11 during trading hours on Thursday, reaching $9.10. 59,561,275 shares of the company were exchanged, compared to its average volume of 17,247,097. 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 stock's 50-day moving average is $9.61 and its 200-day moving average is $9.94. The firm has a market cap of $13.15 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. Amcor plc has a twelve month low of $8.37 and a twelve month high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data 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 during 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 firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. On average, sell-side analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed 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. This represents a $0.51 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend is Thursday, May 22nd. Amcor's dividend payout ratio is presently 92.73%.

Insider Activity

In other Amcor news, Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction dated 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 transaction, the director now directly owns 88,967 shares of the company's stock, valued at approximately $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.60% of the company's stock.

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.