NorthRock Partners LLC Purchases 38,523 Shares of Amcor plc (NYSE:AMCR)

NorthRock Partners LLC increased its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 72.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 91,351 shares of the company's stock after buying an additional 38,523 shares during the quarter. NorthRock Partners LLC's holdings in Amcor were worth $860,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AMCR. Vanguard Group Inc. lifted its holdings in Amcor by 2.2% during 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 last quarter. Barclays PLC grew its position in shares of Amcor by 31.8% in the third quarter. Barclays PLC now owns 4,544,118 shares of the company's stock valued at $51,484,000 after purchasing an additional 1,096,664 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of Amcor during the fourth quarter worth approximately $2,605,000. Empowered Funds LLC lifted its holdings in Amcor by 25.9% during the 4th quarter. Empowered Funds LLC now owns 167,952 shares of the company's stock worth $1,580,000 after purchasing an additional 34,573 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in Amcor by 11,326.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock valued at $69,000 after purchasing an additional 7,249 shares during the period. 45.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AMCR shares. Truist Financial reduced their target price 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. Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Finally, Raymond James assumed coverage on shares of Amcor in a research note on Tuesday, April 22nd. They set a "market perform" rating on the stock. Four equities research 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 company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $11.31.

Amcor Trading Down 0.5%

Shares of Amcor stock traded down $0.05 on Wednesday, hitting $9.26. The stock had a trading volume of 5,150,435 shares, compared to its average volume of 18,490,819. The stock has a 50 day moving average of $9.39 and a 200 day moving average of $9.75. The firm has a market capitalization of $13.38 billion, a P/E ratio of 16.83, a PEG 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. 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 (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, hitting analysts' consensus estimates of $0.18. The company 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%. Amcor's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 earnings per share. Sell-side analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced 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 5.51%. The ex-dividend date of this dividend is Thursday, May 22nd. Amcor's dividend payout ratio is presently 91.07%.

Insiders Place Their Bets

In related news, Director Achal Agarwal acquired 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 transaction, the director now directly owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 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.