Mission Wealth Management LP Sells 2,308 Shares of Amcor plc (NYSE:AMCR)

Mission Wealth Management LP lowered its holdings in shares of Amcor plc (NYSE:AMCR) by 4.9% in the fourth quarter, HoldingsChannel reports. The firm owned 44,566 shares of the company’s stock after selling 2,308 shares during the period. Mission Wealth Management LP’s holdings in Amcor were worth $419,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in AMCR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Amcor by 275.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after acquiring an additional 4,851,222 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Amcor by 39,411.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock worth $31,855,000 after acquiring an additional 2,804,484 shares during the period. M&G PLC boosted its holdings in shares of Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after acquiring an additional 2,775,794 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amcor by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock worth $489,348,000 after acquiring an additional 1,960,308 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Amcor by 94.8% during the third quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock worth $33,312,000 after acquiring an additional 1,430,545 shares during the period. Institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

AMCR has been the subject of a number of research analyst reports. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research note on Wednesday, December 11th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and boosted their price target for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $11.00 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amcor presently has an average rating of “Moderate Buy” and an average price target of $11.46.

Amcor Stock Up 1.0 %

Shares of AMCR opened at $10.06 on Thursday. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The company has a market cap of $14.55 billion, a P/E ratio of 18.30, a P/E/G ratio of 1.96 and a beta of 0.80. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The firm has a 50 day simple moving average of $9.82 and a two-hundred day simple moving average of $10.39.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate 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 period in the previous year, the business earned $0.09 earnings per share. The company’s revenue was down .3% on a year-over-year basis. Research analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders 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 annualized dividend and a yield of 5.07%. Amcor’s dividend payout ratio is currently 92.73%.

Insider Buying and Selling at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was 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 owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.

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.