Gotham Asset Management LLC reduced its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 48.6% 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 205,813 shares of the company's stock after selling 194,367 shares during the period. Gotham Asset Management LLC's holdings in Amcor were worth $1,937,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP grew its stake in Amcor by 303.9% in the fourth quarter. Marshall Wace LLP now owns 8,699,610 shares of the company's stock worth $81,863,000 after purchasing an additional 6,545,689 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Amcor by 25.1% in the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock worth $263,215,000 after acquiring an additional 5,614,233 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Amcor by 474.7% in the 4th quarter. First Trust Advisors LP now owns 5,402,490 shares of the company's stock valued at $50,837,000 after acquiring an additional 4,462,367 shares during the last quarter. Invesco Ltd. raised its position in shares of Amcor by 16.0% during the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock valued at $286,300,000 after acquiring an additional 4,199,209 shares in the last quarter. Finally, Eminence Capital LP bought a new position in Amcor during the fourth quarter worth $27,065,000. 45.14% of the stock is owned by institutional investors and hedge funds.
Amcor Stock Performance
Shares of AMCR traded up $0.01 during trading hours on Monday, reaching $9.45. 26,162,364 shares of the company traded hands, compared to its average volume of 18,463,025. Amcor plc has a 1-year low of $8.37 and a 1-year high of $11.48. The stock has a market cap of $13.66 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The stock's fifty day moving average is $9.40 and its 200 day moving average is $9.76. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.
Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 EPS. Equities research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.
Amcor Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd will be paid a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.40%. Amcor's payout ratio is presently 91.07%.
Analyst Ratings Changes
Several analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Truist Financial cut their price target on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James started coverage on Amcor in a research note on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Four 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.31.
Get Our Latest Analysis on AMCR
Insider Buying and Selling at Amcor
In related news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction dated 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 completion of 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company's stock.
About Amcor
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Free Report)
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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