Deutsche Bank AG Acquires 2,734,369 Shares of Amcor plc (NYSE:AMCR)

Deutsche Bank AG boosted its holdings in Amcor plc (NYSE:AMCR - Free Report) by 51.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 8,061,242 shares of the company's stock after buying an additional 2,734,369 shares during the period. Deutsche Bank AG owned approximately 0.56% of Amcor worth $75,856,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Marshall Wace LLP raised its holdings in Amcor by 303.9% in the fourth quarter. Marshall Wace LLP now owns 8,699,610 shares of the company's stock valued at $81,863,000 after acquiring an additional 6,545,689 shares in the last quarter. Wellington Management Group LLP lifted 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 buying an additional 5,614,233 shares during the last quarter. First Trust Advisors LP raised its position in shares of Amcor by 474.7% during the 4th quarter. First Trust Advisors LP now owns 5,402,490 shares of the company's stock worth $50,837,000 after purchasing an additional 4,462,367 shares during the period. Invesco Ltd. lifted its stake in Amcor by 16.0% in the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock valued at $286,300,000 after buying an additional 4,199,209 shares during the last quarter. Finally, Eminence Capital LP acquired a new position in Amcor during the 4th quarter valued at about $27,065,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Trading Up 1.5%

Shares of Amcor stock traded up $0.14 on Friday, reaching $9.45. 21,853,986 shares of the company were exchanged, compared to its average volume of 18,355,036. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. Amcor plc has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The stock has a fifty day moving average price of $9.41 and a 200-day moving average price of $9.79.

Amcor (NYSE:AMCR - Get Free Report) last posted 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. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period in the previous year, the firm earned $0.13 earnings per share. Amcor's quarterly revenue was down 2.3% on a year-over-year basis. On average, analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd will be given a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.40%. The ex-dividend date is Thursday, May 22nd. Amcor's dividend payout ratio is currently 91.07%.

Insider Transactions at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, the director now 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMCR. Truist Financial decreased their price objective on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Raymond James began coverage on Amcor in a research report on Tuesday, April 22nd. They issued a "market perform" rating for the company. Finally, Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.31.

Amcor Company 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.