Invesco Ltd. Boosts Stock Holdings in Amcor plc (NYSE:AMCR)

Invesco Ltd. increased its position in Amcor plc (NYSE:AMCR - Free Report) by 16.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 30,425,121 shares of the company's stock after purchasing an additional 4,199,209 shares during the period. Invesco Ltd. owned 2.11% of Amcor worth $286,300,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Amcor during the fourth quarter worth approximately $140,000. Aviva PLC raised its holdings in shares of Amcor by 140.2% in the fourth quarter. Aviva PLC now owns 815,039 shares of the company's stock valued at $7,670,000 after buying an additional 475,709 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Amcor by 26.0% during the fourth quarter. Wells Fargo & Company MN now owns 3,657,298 shares of the company's stock worth $34,415,000 after buying an additional 755,189 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in Amcor in the 4th quarter valued at about $618,000. Finally, Huntington National Bank lifted its position in Amcor by 52.4% during the 4th quarter. Huntington National Bank now owns 4,426 shares of the company's stock worth $42,000 after acquiring an additional 1,522 shares during the period. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Price Performance

Shares of AMCR stock traded down $0.01 during mid-day trading on Wednesday, reaching $9.35. The stock had a trading volume of 8,482,347 shares, compared to its average volume of 26,062,775. The company has a market cap of $13.51 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. Amcor plc has a 12-month low of $8.37 and a 12-month high of $11.48. The business has a 50-day simple moving average of $9.76 and a 200 day simple moving average of $10.06. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80.

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

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.46%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor's payout ratio 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 dated Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, for a total transaction 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 $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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