Meiji Yasuda Asset Management Co Ltd. Sells 11,440 Shares of Amcor plc (NYSE:AMCR)

Meiji Yasuda Asset Management Co Ltd. lowered its stake in Amcor plc (NYSE:AMCR) by 19.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,429 shares of the company’s stock after selling 11,440 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Amcor were worth $446,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC lifted its stake in Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares during the last quarter. True Wealth Design LLC increased 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 buying an additional 3,225 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Amcor by 247.4% in the 4th 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. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Amcor during the 4th quarter valued at $44,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Amcor during the 4th quarter valued at $60,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Price Performance

AMCR stock opened at $9.72 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The firm has a market cap of $14.04 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.96 and a beta of 0.80. The company’s fifty day simple moving average is $9.93 and its 200 day simple moving average is $10.25. Amcor plc has a 12-month low of $8.80 and a 12-month high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. On average, analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were paid a $0.1275 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.25%. Amcor’s dividend payout ratio is currently 92.73%.

Analysts Set New Price Targets

AMCR has been the subject of several research reports. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research report on Wednesday, December 11th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Three 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. According to data from MarketBeat.com, Amcor has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Insider Activity

In related news, Director Achal Agarwal purchased 10,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, with a total value 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 trade represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is currently owned by company insiders.

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.