The Manufacturers Life Insurance Company Has $7.09 Million Stock Holdings in Amcor plc (NYSE:AMCR)

The Manufacturers Life Insurance Company trimmed its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 6.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 753,099 shares of the company's stock after selling 52,747 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of Amcor worth $7,087,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Truist Financial decreased their price target 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 raised shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Finally, Raymond James started coverage on Amcor in a research note on Tuesday, April 22nd. They issued a "market perform" rating for the company. 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 a consensus rating of "Moderate Buy" and an average target price of $11.31.

Amcor Price Performance

Shares of Amcor stock traded up $0.21 on Monday, hitting $9.33. The company had a trading volume of 4,107,030 shares, compared to its average volume of 17,868,665. Amcor plc has a 52 week low of $8.37 and a 52 week high of $11.48. The company has a market cap of $13.48 billion, a PE ratio of 16.96, a PEG ratio of 1.96 and a beta of 0.78. The business has a 50-day simple moving average of $9.49 and a 200-day simple moving average of $9.82. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The company's revenue was down 2.3% on a year-over-year basis. Research analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 yield of 5.47%. Amcor's payout ratio is 91.07%.

Insider Transactions at Amcor

In related news, Director Achal Agarwal bought 10,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were bought 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 represents a 12.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.