AGF Management Ltd. Reduces Stock Holdings in Amcor plc (NYSE:AMCR)

AGF Management Ltd. decreased its position in Amcor plc (NYSE:AMCR - Free Report) by 10.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 248,444 shares of the company's stock after selling 30,276 shares during the period. AGF Management Ltd.'s holdings in Amcor were worth $2,338,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Amcor by 31.8% in the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company's stock valued at $51,484,000 after purchasing an additional 1,096,664 shares during the period. Franklin Resources Inc. raised its position in shares of Amcor by 39.3% during the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company's stock worth $8,162,000 after acquiring an additional 203,166 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of Amcor by 24.5% during the 3rd quarter. Natixis Advisors LLC now owns 634,631 shares of the company's stock valued at $7,190,000 after purchasing an additional 124,945 shares in the last quarter. Cerity Partners LLC lifted its stake in Amcor by 78.7% in the third quarter. Cerity Partners LLC now owns 217,498 shares of the company's stock valued at $2,464,000 after buying an additional 95,805 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Amcor during the 3rd quarter worth approximately $5,919,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMCR. Bank of America raised shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price on the stock in a research note on Wednesday, December 11th. Truist Financial raised shares of Amcor from a "hold" rating to a "buy" rating and raised their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Macquarie upgraded shares of Amcor from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 27th. Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Finally, UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.46.

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Insider Activity

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of the stock in a transaction 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 purchase, the director now directly owns 88,967 shares of the company's stock, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.60% of the company's stock.

Amcor Price Performance

NYSE:AMCR traded down $0.08 during trading hours on Wednesday, hitting $9.85. 21,890,706 shares of the company's stock traded hands, compared to its average volume of 11,926,605. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The business's fifty day simple moving average is $9.92 and its two-hundred day simple moving average is $10.32. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The firm has a market cap of $14.23 billion, a P/E ratio of 17.90, a P/E/G ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor's revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. On average, research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor's dividend payout ratio (DPR) is currently 92.73%.

Amcor Company 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.