Amcor plc (NYSE:AMCR) Position Trimmed by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC decreased its holdings in Amcor plc (NYSE:AMCR) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,824,796 shares of the company’s stock after selling 166,359 shares during the period. O Shaughnessy Asset Management LLC owned about 0.13% of Amcor worth $17,171,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC raised its holdings in shares of 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 purchasing an additional 2,319 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after buying an additional 2,660 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Amcor during the 4th quarter valued at about $44,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Amcor in the 4th quarter valued at approximately $60,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and upped their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research note on Wednesday, December 11th. Finally, Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Insider Buying and Selling

In related news, Director Achal Agarwal purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, with a total value of $101,000.00. Following the purchase, the director now directly owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.

Amcor Price Performance

Shares of AMCR stock opened at $9.64 on Monday. The company has a market capitalization of $13.93 billion, a P/E ratio of 17.52, a P/E/G ratio of 1.96 and a beta of 0.80. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48. The stock has a 50 day moving average of $9.93 and a two-hundred day moving average of $10.23.

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

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors 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 dividend on an annualized basis and a yield of 5.29%. Amcor’s payout ratio is currently 92.73%.

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.