Amcor plc (NYSE:AMCR) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 92.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,435 shares of the company's stock after selling 219,667 shares during the period. Mackenzie Financial Corp's holdings in Amcor were worth $173,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AMCR. Vanguard Group Inc. increased its position in 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 acquiring an additional 1,249,868 shares during the period. Van ECK Associates Corp bought a new position in shares of Amcor in the fourth quarter worth $2,605,000. Empowered Funds LLC increased its holdings in shares of Amcor by 25.9% during the fourth quarter. Empowered Funds LLC now owns 167,952 shares of the company's stock valued at $1,580,000 after purchasing an additional 34,573 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in shares of Amcor by 11,326.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock valued at $69,000 after purchasing an additional 7,249 shares during the period. Finally, Norges Bank acquired a new position in Amcor during the 4th quarter valued at about $6,223,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

Shares of AMCR opened at $9.03 on Friday. Amcor plc has a one year low of $8.37 and a one year high of $11.48. The company has a 50-day moving average of $9.24 and a two-hundred day moving average of $9.66. The stock has a market cap of $13.05 billion, a price-to-earnings ratio of 16.42, a PEG 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.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $3.33 billion during 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%. The business's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 EPS. On average, equities research analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.65%. Amcor's payout ratio is 91.07%.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMCR shares. Truist Financial cut their price objective on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Raymond James initiated coverage on shares of Amcor in a research report on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.

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