AXA S.A. increased its stake in Amcor plc (NYSE:AMCR - Free Report) by 102.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 353,594 shares of the company's stock after acquiring an additional 178,711 shares during the quarter. AXA S.A.'s holdings in Amcor were worth $3,327,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Amcor by 2.2% in 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. Barclays PLC increased its holdings in Amcor by 31.8% in the third quarter. Barclays PLC now owns 4,544,118 shares of the company's stock worth $51,484,000 after purchasing an additional 1,096,664 shares in the last quarter. Franklin Resources Inc. lifted its stake in Amcor by 39.3% in the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company's stock valued at $8,162,000 after buying an additional 203,166 shares during the period. Van ECK Associates Corp acquired a new position in Amcor in the fourth quarter valued at approximately $2,605,000. Finally, Tidal Investments LLC boosted its holdings in shares of Amcor by 292.5% during the 3rd quarter. Tidal Investments LLC now owns 81,439 shares of the company's stock worth $923,000 after buying an additional 60,691 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. Truist Financial cut their target price on shares of Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Raymond James initiated coverage on Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating on the stock. 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 equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $11.31.
Check Out Our Latest Analysis on Amcor
Insider Activity at Amcor
In other Amcor news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, 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 document filed with the SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by company insiders.
Amcor Stock Down 1.0%
NYSE:AMCR traded down $0.09 during trading hours on Tuesday, hitting $9.25. 10,221,265 shares of the company traded hands, compared to its average volume of 17,965,904. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The company has a market cap of $13.37 billion, a PE ratio of 16.82, a PEG ratio of 1.96 and a beta of 0.78. The firm's 50-day simple moving average is $9.47 and its 200-day simple moving average is $9.81. Amcor plc has a one year low of $8.37 and a one year high of $11.48.
Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, meeting analysts' consensus estimates of $0.18. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period last year, the firm earned $0.13 earnings per share. The firm's revenue was down 2.3% on a year-over-year basis. Equities analysts predict that Amcor plc will post 0.74 earnings per share for the current year.
Amcor Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.51%. The ex-dividend date is Thursday, May 22nd. Amcor's dividend payout ratio is presently 91.07%.
About Amcor
(
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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