Amcor plc (NYSE:AMCR) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lifted its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 33.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,811,344 shares of the company's stock after acquiring an additional 457,327 shares during the period. Adage Capital Partners GP L.L.C. owned 0.13% of Amcor worth $17,045,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Amcor by 0.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,492,625 shares of the company's stock worth $117,556,000 after purchasing an additional 85,978 shares during the last quarter. Dark Forest Capital Management LP grew its holdings in Amcor by 110.7% in the 4th quarter. Dark Forest Capital Management LP now owns 128,894 shares of the company's stock valued at $1,213,000 after buying an additional 67,731 shares during the period. Optivise Advisory Services LLC acquired a new position in shares of Amcor during the 4th quarter valued at about $99,000. Tower Research Capital LLC TRC lifted its holdings in shares of Amcor by 8.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 58,297 shares of the company's stock worth $549,000 after acquiring an additional 4,329 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of Amcor by 1.8% in the fourth quarter. MetLife Investment Management LLC now owns 382,425 shares of the company's stock worth $3,599,000 after acquiring an additional 6,729 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

Insiders Place Their Bets

In related news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the transaction, the director now 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on AMCR. Truist Financial cut their price target on shares of Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Raymond James assumed coverage on shares of Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Citigroup upgraded shares of Amcor from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Four 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $11.31.

Amcor Stock Down 1.2 %

Shares of Amcor stock opened at $9.54 on Friday. Amcor plc has a 1-year low of $8.37 and a 1-year high of $11.48. The company has a market capitalization of $13.79 billion, a PE ratio of 17.35, a P/E/G ratio of 1.96 and a beta of 0.78. 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 business has a 50-day moving average of $9.67 and a 200-day moving average of $9.97.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting analysts' consensus estimates of $0.16. The firm 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 quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. As a group, equities analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.35%. Amcor's dividend payout ratio (DPR) is 92.73%.

Amcor 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.

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