BlackRock Inc. Has $1.17 Billion Position in Amcor plc (NYSE:AMCR)

BlackRock Inc. lifted its position in shares of Amcor plc (NYSE:AMCR) by 0.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,152,708 shares of the company’s stock after buying an additional 86,289 shares during the period. BlackRock Inc. owned about 6.60% of Amcor worth $1,172,358,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Amcor during the second quarter worth about $31,000. Berman Capital Advisors LLC boosted its position in shares of Amcor by 363.9% during the second quarter. Berman Capital Advisors LLC now owns 3,210 shares of the company’s stock worth $36,000 after buying an additional 2,518 shares during the period. Newbridge Financial Services Group Inc. boosted its position in shares of Amcor by 441.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 3,894 shares of the company’s stock worth $45,000 after buying an additional 3,175 shares during the period. Advisory Services Network LLC acquired a new position in shares of Amcor during the second quarter worth about $93,000. Finally, Beacon Pointe Advisors LLC acquired a new position in shares of Amcor during the second quarter worth about $122,000. 38.84% of the stock is owned by institutional investors.

Several analysts recently issued reports on AMCR shares. Zacks Investment Research upgraded Amcor from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Friday, November 5th. TheStreet lowered Amcor from a “b” rating to a “c” rating in a report on Friday, December 10th. Finally, Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $13.20 target price on the stock in a report on Wednesday, December 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.95.

In other news, insider Michael J. Zacka sold 147,736 shares of the stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $12.02, for a total transaction of $1,775,786.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael J. Zacka sold 90,000 shares of the stock in a transaction that occurred on Monday, December 6th. The stock was sold at an average price of $11.61, for a total value of $1,044,900.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 237,875 shares of company stock worth $2,822,314. 0.28% of the stock is owned by corporate insiders.

NYSE:AMCR opened at $12.37 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 1.39. The stock’s 50 day moving average price is $11.88 and its two-hundred day moving average price is $11.91. The firm has a market capitalization of $18.97 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 2.04 and a beta of 0.92. Amcor plc has a 12-month low of $10.33 and a 12-month high of $12.92.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, November 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.28 billion. Amcor had a return on equity of 24.50% and a net margin of 7.15%. During the same quarter in the prior year, the company earned $0.16 earnings per share. Equities research analysts expect that Amcor plc will post 0.8 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 14th. Shareholders of record on Wednesday, November 24th were paid a $0.12 dividend. This is a positive change from Amcor’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, November 23rd. This represents a $0.48 annualized dividend and a yield of 3.88%. Amcor’s dividend payout ratio is currently 80.00%.

About Amcor

Amcor Plc operates as a holding company, which engages in the provision of consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.

Read More: Debt-To-Equity Ratio

Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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