Kestra Advisory Services LLC Has $1.17 Million Holdings in Amcor plc (NYSE:AMCR)

Kestra Advisory Services LLC grew its stake in shares of Amcor plc (NYSE:AMCR – Get Rating) by 184.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 109,235 shares of the company’s stock after purchasing an additional 70,794 shares during the period. Kestra Advisory Services LLC’s holdings in Amcor were worth $1,172,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Federated Hermes Inc. grew its position in Amcor by 123.3% in the 2nd quarter. Federated Hermes Inc. now owns 19,299,989 shares of the company’s stock worth $239,899,000 after purchasing an additional 10,658,601 shares in the last quarter. State Street Corp grew its holdings in shares of Amcor by 10.2% in the first quarter. State Street Corp now owns 112,644,781 shares of the company’s stock valued at $1,276,265,000 after acquiring an additional 10,472,157 shares in the last quarter. Invesco Ltd. increased its position in shares of Amcor by 40.9% during the first quarter. Invesco Ltd. now owns 27,078,220 shares of the company’s stock valued at $306,797,000 after acquiring an additional 7,854,257 shares during the last quarter. ING Groep NV lifted its holdings in Amcor by 328.3% during the second quarter. ING Groep NV now owns 4,282,788 shares of the company’s stock worth $53,235,000 after acquiring an additional 3,282,727 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Amcor by 162.4% in the first quarter. The Manufacturers Life Insurance Company now owns 2,999,242 shares of the company’s stock worth $33,981,000 after purchasing an additional 1,856,228 shares during the last quarter. Institutional investors own 46.79% of the company’s stock.

Insider Buying and Selling

In other Amcor news, Director Nicholas T. Long sold 5,372 shares of Amcor stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $12.40, for a total transaction of $66,612.80. Following the completion of the transaction, the director now owns 29,769 shares of the company’s stock, valued at approximately $369,135.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Amcor news, Director Nicholas T. Long sold 5,372 shares of the stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $12.40, for a total value of $66,612.80. Following the sale, the director now directly owns 29,769 shares in the company, valued at approximately $369,135.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ian Wilson sold 100,000 shares of the business’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $12.38, for a total transaction of $1,238,000.00. Following the transaction, the executive vice president now owns 131,610 shares of the company’s stock, valued at $1,629,331.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,080,955 shares of company stock valued at $13,145,237. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

AMCR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut Amcor from an “overweight” rating to a “neutral” rating and set a $11.70 target price on the stock. in a research note on Tuesday. TheStreet upgraded shares of Amcor from a “c+” rating to a “b-” rating in a research note on Thursday, November 10th. Finally, Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating in a research note on Thursday, October 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.00.

Amcor Price Performance

Shares of NYSE:AMCR opened at $11.74 on Wednesday. The firm has a market capitalization of $17.48 billion, a PE ratio of 20.96, a P/E/G ratio of 3.83 and a beta of 0.79. The company has a quick ratio of 0.71, a current ratio of 1.27 and a debt-to-equity ratio of 1.73. The company has a 50-day moving average price of $12.09 and a two-hundred day moving average price of $11.95. Amcor plc has a twelve month low of $10.42 and a twelve month high of $13.60.

Amcor (NYSE:AMCR – Get Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Amcor had a net margin of 5.63% and a return on equity of 28.47%. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Equities analysts forecast that Amcor plc will post 0.78 EPS for the current year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 13th. Investors of record on Wednesday, November 23rd were paid a dividend of $0.1225 per share. This represents a $0.49 dividend on an annualized basis and a dividend yield of 4.17%. This is a positive change from Amcor’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, November 22nd. Amcor’s payout ratio is presently 87.50%.

About Amcor

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Amcor Plc operates as a holding company, which engages in the 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.