APG Asset Management N.V. Acquires 44,900 Shares of Amcor plc (NYSE:AMCR)

APG Asset Management N.V. lifted its holdings in Amcor plc (NYSE:AMCR - Free Report) by 4.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,119,870 shares of the company's stock after purchasing an additional 44,900 shares during the period. APG Asset Management N.V. owned approximately 0.08% of Amcor worth $10,177,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kovitz Investment Group Partners LLC acquired a new stake in Amcor in the 3rd quarter valued at $232,000. EP Wealth Advisors LLC acquired a new stake in shares of Amcor during the 3rd quarter worth approximately $636,000. National Bank of Canada FI lifted its position in shares of Amcor by 85.9% during the third quarter. National Bank of Canada FI now owns 738,733 shares of the company's stock worth $8,370,000 after purchasing an additional 341,270 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Amcor in the third quarter worth $5,919,000. Finally, Barclays PLC grew its stake in Amcor by 31.8% in the third 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 in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Price Performance

Amcor stock traded down $0.03 during midday trading on Wednesday, reaching $9.33. 10,678,743 shares of the stock were exchanged, compared to its average volume of 14,842,582. Amcor plc has a 52 week low of $8.37 and a 52 week high of $11.48. The firm has a market cap of $13.49 billion, a PE ratio of 16.96, a PEG ratio of 1.96 and a beta of 0.78. The company's fifty day moving average is $9.76 and its 200-day moving average is $10.06. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

Remove Ads

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $3.33 billion. During the same quarter last year, the business posted $0.09 EPS. The firm's revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.47%. The ex-dividend date was Wednesday, February 26th. Amcor's payout ratio is currently 92.73%.

Analysts Set New Price Targets

Several brokerages have recently commented on AMCR. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Truist Financial upgraded Amcor from a "hold" rating to a "buy" rating and boosted their price target for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, Citigroup upgraded shares of Amcor from a "neutral" rating to a "buy" rating and increased their price objective for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Amcor presently has an average rating of "Moderate Buy" and a consensus price target of $11.46.

Insider Buying and Selling

In related news, Director Achal Agarwal bought 10,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the transaction, the director now directly owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by insiders.

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.