Amcor PLC (NYSE:AMCR) Shares Bought by National Bank of Canada FI

National Bank of Canada FI grew its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 61.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,090,650 shares of the company's stock after buying an additional 413,807 shares during the quarter. National Bank of Canada FI owned 0.08% of Amcor worth $10,579,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AMCR. Rakuten Securities Inc. grew its stake in Amcor by 18,725.0% in the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after acquiring an additional 2,996 shares in the last quarter. HM Payson & Co. bought a new position in Amcor in the 1st quarter worth about $30,000. Brentview Investment Management LLC bought a new position in Amcor in the 1st quarter worth about $31,000. CVA Family Office LLC grew its stake in Amcor by 234.1% in the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock worth $32,000 after acquiring an additional 2,280 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in Amcor in the 1st quarter worth about $36,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMCR has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Amcor in a research note on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price objective on the stock. Truist Financial set a $11.00 price objective on shares of Amcor and gave the company a "buy" rating in a research note on Friday, July 11th. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Robert W. Baird dropped their price objective on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, Wells Fargo & Company increased their price objective on shares of Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Amcor currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.42.

Amcor Stock Down 0.3%

NYSE:AMCR traded down $0.03 during midday trading on Friday, reaching $8.73. 65,218,352 shares of the stock traded hands, compared to its average volume of 24,568,416. Amcor PLC has a 12-month low of $8.37 and a 12-month high of $11.48. The business has a 50-day moving average of $9.42 and a two-hundred day moving average of $9.51. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.16 and a current ratio of 0.67. The stock has a market capitalization of $12.62 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 1.12 and a beta of 0.74.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). The company had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%. The company's quarterly revenue was up 43.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 EPS. On average, equities analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, September 5th will be issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, September 5th. Amcor's dividend payout ratio (DPR) is 141.67%.

About Amcor

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.