CANADA LIFE ASSURANCE Co Cuts Holdings in Amcor plc (NYSE:AMCR)

CANADA LIFE ASSURANCE Co lowered its position in Amcor plc (NYSE:AMCR - Free Report) by 48.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 767,766 shares of the company's stock after selling 723,868 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.05% of Amcor worth $7,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its stake in shares of Amcor by 303.9% in the 4th quarter. Marshall Wace LLP now owns 8,699,610 shares of the company's stock valued at $81,863,000 after purchasing an additional 6,545,689 shares in the last quarter. Wellington Management Group LLP raised its holdings in Amcor by 25.1% in the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock valued at $263,215,000 after buying an additional 5,614,233 shares during the period. Invesco Ltd. lifted its position in Amcor by 16.0% during the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock valued at $286,300,000 after buying an additional 4,199,209 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Amcor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock worth $433,358,000 after buying an additional 2,862,471 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Amcor in the fourth quarter worth $23,810,000. Hedge funds and other institutional investors own 45.14% of the company's stock.

Analysts Set New Price Targets

AMCR has been the topic of several analyst reports. Raymond James initiated coverage on Amcor in a report on Tuesday. They set a "market perform" rating on the stock. Truist Financial reduced their price objective on shares of Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday. Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $11.31.

Amcor Trading Up 2.7 %

Shares of NYSE AMCR opened at $9.56 on Wednesday. The company has a market cap of $13.82 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The stock's 50 day simple moving average is $9.70 and its 200 day simple moving average is $10.00. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. Amcor plc has a 12-month low of $8.37 and a 12-month high of $11.48.

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

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were given a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor's dividend payout ratio (DPR) is 92.73%.

Insider Buying and Selling at Amcor

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of the firm's stock in a transaction that occurred 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 acquisition, the director now directly owns 88,967 shares of the company's stock, valued at $898,566.70. This represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by company 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.

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