Cibc World Markets Corp Raises Position in Amcor plc (NYSE:AMCR)

Cibc World Markets Corp raised its position in Amcor plc (NYSE:AMCR - Free Report) by 299.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 783,187 shares of the company's stock after acquiring an additional 586,996 shares during the quarter. Cibc World Markets Corp owned approximately 0.05% of Amcor worth $7,370,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. GSA Capital Partners LLP grew its position in shares of Amcor by 51.9% during the third quarter. GSA Capital Partners LLP now owns 34,190 shares of the company's stock worth $387,000 after buying an additional 11,685 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Amcor by 6.0% during the third quarter. Empowered Funds LLC now owns 133,379 shares of the company's stock worth $1,511,000 after purchasing an additional 7,507 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Amcor by 24.5% during the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company's stock worth $7,190,000 after purchasing an additional 124,945 shares in the last quarter. Claro Advisors LLC acquired a new position in shares of Amcor during the 3rd quarter worth about $152,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of Amcor by 1.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 163,234 shares of the company's stock worth $1,850,000 after acquiring an additional 3,019 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Amcor Stock Performance

NYSE:AMCR traded down $0.29 during mid-day trading on Friday, reaching $9.44. The stock had a trading volume of 61,912,768 shares, compared to its average volume of 12,231,175. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The business has a 50 day simple moving average of $9.93 and a 200 day simple moving average of $10.30. The firm has a market capitalization of $13.64 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.96 and a beta of 0.80. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the company earned $0.09 earnings per share. Amcor's quarterly revenue was down .3% compared to the same quarter last year. On average, analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal 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 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 5.41%. Amcor's payout ratio is 92.73%.

Insider Buying and Selling at Amcor

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMCR. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Macquarie upgraded shares of Amcor from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 27th. Citigroup upgraded shares of Amcor from a "neutral" rating to a "buy" rating and upped their price objective for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Truist Financial raised Amcor from a "hold" rating to a "buy" rating and upped their target price for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Bank of America raised Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price for the company in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.46.

About Amcor

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.