Charles Schwab Investment Management Inc. Buys 2,862,471 Shares of Amcor plc (NYSE:AMCR)

Charles Schwab Investment Management Inc. lifted its stake in Amcor plc (NYSE:AMCR) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,052,929 shares of the company’s stock after buying an additional 2,862,471 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Amcor were worth $433,358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC boosted its position in Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after buying an additional 2,319 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Amcor by 247.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after acquiring an additional 2,660 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Amcor in the fourth quarter worth about $60,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in Amcor by 11,326.6% during 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. Institutional investors own 45.14% of the company’s stock.

Insiders Place Their Bets

In other news, Director Achal Agarwal bought 10,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. This represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

AMCR has been the subject of several research analyst reports. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and increased their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $12.00 in a research report on Monday, January 6th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Stock Down 1.8 %

Shares of Amcor stock opened at $9.95 on Wednesday. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The firm has a market cap of $14.37 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.96 and a beta of 0.80. The company has a 50-day moving average of $9.81 and a 200 day moving average of $10.40. 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) last announced its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the firm earned $0.09 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

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.