Achal Agarwal Buys 10,000 Shares of Amcor plc (NYSE:AMCR) Stock

Amcor plc (NYSE:AMCR) Director Achal Agarwal bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, the director now owns 88,967 shares of the company’s stock, valued at $898,566.70. This represents a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Amcor Stock Down 0.1 %

NYSE:AMCR opened at $10.11 on Tuesday. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The company has a market cap of $14.61 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84. The stock has a fifty day simple moving average of $9.80 and a 200-day simple moving average of $10.40. 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 (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $3.24 billion during 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 business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. Analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be given a dividend of $0.1275 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.04%. Amcor’s dividend payout ratio (DPR) is 92.73%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. 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 worth $27,000 after acquiring an additional 2,319 shares during the period. True Wealth Design LLC grew its position in Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after acquiring an additional 3,225 shares in the last quarter. Quarry LP boosted its stake in shares of Amcor by 2,064.5% in the 4th quarter. Quarry LP now owns 3,723 shares of the company’s stock valued at $35,000 after buying an additional 3,551 shares during the period. Jones Financial Companies Lllp boosted 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 buying an additional 2,660 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Amcor during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Amcor

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.