Eminence Capital LP Purchases New Stake in Amcor plc (NYSE:AMCR)

Eminence Capital LP purchased a new stake in shares of Amcor plc (NYSE:AMCR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,876,180 shares of the company's stock, valued at approximately $27,065,000. Eminence Capital LP owned approximately 0.20% of Amcor at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AMCR. CWA Asset Management Group LLC grew its stake in Amcor by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company's stock valued at $304,000 after purchasing an additional 1,213 shares during the last quarter. Utah Retirement Systems grew its stake in Amcor by 1.1% during the 4th quarter. Utah Retirement Systems now owns 120,076 shares of the company's stock valued at $1,130,000 after purchasing an additional 1,300 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in Amcor by 11.3% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company's stock valued at $131,000 after purchasing an additional 1,409 shares during the last quarter. New York Life Investment Management LLC grew its stake in Amcor by 0.8% during the 4th quarter. New York Life Investment Management LLC now owns 195,714 shares of the company's stock valued at $1,842,000 after purchasing an additional 1,507 shares during the last quarter. Finally, Huntington National Bank grew its stake in Amcor by 52.4% during the 4th quarter. Huntington National Bank now owns 4,426 shares of the company's stock valued at $42,000 after purchasing an additional 1,522 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Insider Buying and Selling at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price 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 in the company, valued at $898,566.70. This trade represents a 12.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.60% of the company's stock.

Amcor Stock Performance

Shares of AMCR traded up $0.16 during mid-day trading on Monday, reaching $9.28. The company had a trading volume of 10,911,009 shares, compared to its average volume of 31,086,383. Amcor plc has a 52-week low of $8.37 and a 52-week high of $11.48. 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 stock has a market capitalization of $13.41 billion, a P/E ratio of 16.86, a PEG ratio of 1.96 and a beta of 0.78. The stock has a 50 day moving average of $9.49 and a two-hundred day moving average of $9.82.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.51 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 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.13 earnings per share. On average, analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $0.1275 per share. The ex-dividend date is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.50%. Amcor's payout ratio is currently 91.07%.

Analysts Set New Price Targets

AMCR has been the topic of several research analyst reports. Truist Financial dropped their price target on 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 note on Tuesday, April 22nd. They set a "market perform" rating on the stock. Finally, Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.