BNP Paribas Financial Markets Buys 860,446 Shares of Amcor plc (NYSE:AMCR)

BNP Paribas Financial Markets boosted its holdings in Amcor plc (NYSE:AMCR - Free Report) by 39.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,053,774 shares of the company's stock after purchasing an additional 860,446 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.21% of Amcor worth $28,736,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. AXA S.A. boosted its position in shares of Amcor by 102.2% during the fourth quarter. AXA S.A. now owns 353,594 shares of the company's stock worth $3,327,000 after acquiring an additional 178,711 shares during the last quarter. DoubleLine ETF Adviser LP purchased a new stake in Amcor in the 4th quarter worth $1,506,000. Appian Way Asset Management LP bought a new position in shares of Amcor during the 4th quarter valued at about $16,995,000. One68 Global Capital LLC bought a new position in shares of Amcor during the 4th quarter valued at about $395,000. Finally, Parvin Asset Management LLC purchased a new position in shares of Amcor during the fourth quarter valued at about $1,533,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amcor news, Director Achal Agarwal bought 10,000 shares of the company's stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now directly owns 88,967 shares of the company's stock, valued at approximately $898,566.70. This 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 at the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Amcor Trading Down 0.4%

Shares of NYSE:AMCR traded down $0.04 during trading on Wednesday, hitting $9.13. The company had a trading volume of 14,033,751 shares, compared to its average volume of 18,085,430. The stock has a market cap of $13.20 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The company has a fifty day simple moving average of $9.45 and a two-hundred day simple moving average of $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 the consensus estimate of $0.18. The company 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 EPS. As a group, equities analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd will be issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.59%. Amcor's payout ratio is 91.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial decreased their target price on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Finally, Raymond James began coverage on Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating for the company. 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 stock. According to data from MarketBeat, Amcor currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.31.

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.