Amcor plc (NYSE:AMCR) Position Raised by Northern Trust Corp

Northern Trust Corp raised its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 17.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,335,126 shares of the company's stock after acquiring an additional 1,797,118 shares during the quarter. Northern Trust Corp owned approximately 0.85% of Amcor worth $116,074,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. CWA Asset Management Group LLC increased its stake in shares of Amcor by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company's stock valued at $304,000 after acquiring an additional 1,213 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of Amcor by 11.3% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company's stock worth $131,000 after buying an additional 1,409 shares during the last quarter. New York Life Investment Management LLC boosted its holdings in Amcor by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 195,714 shares of the company's stock valued at $1,842,000 after acquiring an additional 1,507 shares during the last quarter. Huntington National Bank grew its position in Amcor by 52.4% during the fourth quarter. Huntington National Bank now owns 4,426 shares of the company's stock valued at $42,000 after acquiring an additional 1,522 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Amcor by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company's stock worth $4,161,000 after acquiring an additional 1,761 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Insider Activity

In other news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $10.10 per share, with a total value 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. The trade was a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company's stock.

Amcor Stock Down 0.6 %

Shares of Amcor stock traded down $0.06 during trading on Wednesday, reaching $9.13. The company had a trading volume of 48,768,713 shares, compared to its average volume of 17,700,397. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor plc has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The firm's fifty day moving average is $9.54 and its 200-day moving average is $9.87. The company has a market cap of $13.19 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78.

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

Amcor Announces Dividend

The firm 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 $0.1275 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.59%. Amcor's payout ratio is currently 91.07%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMCR. Truist Financial decreased their target price on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Finally, Raymond James assumed coverage on Amcor in a research note on Tuesday, April 22nd. They issued a "market perform" rating for the company. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.31.

About Amcor

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.