Amundi boosted its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,836,508 shares of the company's stock after buying an additional 146,062 shares during the quarter. Amundi owned 0.20% of Amcor worth $27,087,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Lifeworks Advisors LLC increased its holdings in Amcor by 34.5% during the 4th quarter. Lifeworks Advisors LLC now owns 490,753 shares of the company's stock valued at $4,618,000 after acquiring an additional 125,754 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Amcor during the 4th quarter valued at $44,000. Edgestream Partners L.P. purchased a new position in Amcor during the fourth quarter worth $5,393,000. Hartford Funds Management Co LLC acquired a new position in shares of Amcor in the fourth quarter worth $607,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Amcor in the fourth quarter valued at $23,810,000. 45.14% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
AMCR has been the topic of a number of recent research reports. Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. UBS Group raised Amcor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 11th. Truist Financial raised Amcor from a "hold" rating to a "buy" rating and lifted their price objective for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Macquarie raised Amcor from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.46.
View Our Latest Analysis on AMCR
Amcor Trading Up 0.7 %
Shares of Amcor stock traded up $0.07 during trading hours on Monday, hitting $9.85. The company's stock had a trading volume of 16,959,854 shares, compared to its average volume of 11,819,880. 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 company has a market capitalization of $14.23 billion, a PE ratio of 17.90, a P/E/G ratio of 1.96 and a beta of 0.80. The business has a fifty day moving average of $9.90 and a 200 day moving average of $10.34. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48.
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 analysts' consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.24 billion for the quarter, compared to analysts' expectations of $3.33 billion. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The firm's quarterly revenue was down .3% on a year-over-year basis. As a group, equities analysts forecast that Amcor plc will post 0.74 EPS for the current year.
Amcor Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be paid 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 5.18%. Amcor's dividend payout ratio is currently 92.73%.
Insider Transactions at Amcor
In related news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now directly owns 88,967 shares of the company's stock, valued at $898,566.70. The trade was a 12.66 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company's stock.
About Amcor
(
Free Report)
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.
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