Marshall Wace LLP Has $81.86 Million Holdings in Amcor plc (NYSE:AMCR)

Marshall Wace LLP boosted its holdings in Amcor plc (NYSE:AMCR - Free Report) by 303.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,699,610 shares of the company's stock after acquiring an additional 6,545,689 shares during the period. Marshall Wace LLP owned about 0.60% of Amcor worth $81,863,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Amcor by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock valued at $555,064,000 after purchasing an additional 1,249,868 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amcor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock valued at $433,358,000 after acquiring an additional 2,862,471 shares during the period. Geode Capital Management LLC grew its position in shares of Amcor by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company's stock worth $345,952,000 after acquiring an additional 539,756 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Amcor by 16.0% in the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock worth $286,300,000 after acquiring an additional 4,199,209 shares during the period. Finally, Wellington Management Group LLP lifted its position in Amcor by 25.1% in the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock valued at $263,215,000 after purchasing an additional 5,614,233 shares during the last quarter. 45.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMCR has been the subject of several recent analyst reports. Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Truist Financial upgraded shares of Amcor from a "hold" rating to a "buy" rating and lifted their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and raised their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Three 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $11.46.

Insider Transactions at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost 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 filing with the SEC, which can be accessed through this link. 0.60% of the stock is currently owned by insiders.

Amcor Price Performance

Amcor stock traded up $0.13 during mid-day trading on Friday, hitting $9.38. The company's stock had a trading volume of 30,534,094 shares, compared to its average volume of 15,129,460. The stock has a market capitalization of $13.55 billion, a P/E ratio of 17.05, a P/E/G ratio of 1.96 and a beta of 0.78. Amcor plc has a twelve month low of $8.37 and a twelve month high of $11.48. The stock's fifty day moving average price is $9.72 and its two-hundred day moving average price is $10.02. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80.

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 analysts' consensus estimates of $0.16. The business 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 revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. Research analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company 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 5.44%. The ex-dividend date was Wednesday, February 26th. Amcor's payout ratio 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.