Squarepoint Ops LLC Cuts Stock Position in Amcor plc (NYSE:AMCR)

Squarepoint Ops LLC trimmed its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 86.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 96,857 shares of the company's stock after selling 607,527 shares during the quarter. Squarepoint Ops LLC's holdings in Amcor were worth $911,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Marshall Wace LLP raised its stake in shares of Amcor by 303.9% in the fourth quarter. Marshall Wace LLP now owns 8,699,610 shares of the company's stock worth $81,863,000 after purchasing an additional 6,545,689 shares during the last quarter. Wellington Management Group LLP raised its position in 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 lifted its stake in Amcor by 474.7% during the 4th quarter. First Trust Advisors LP now owns 5,402,490 shares of the company's stock valued at $50,837,000 after acquiring an additional 4,462,367 shares during the period. Invesco Ltd. lifted its stake in Amcor by 16.0% during the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock valued at $286,300,000 after acquiring an additional 4,199,209 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Amcor during the 4th quarter valued at about $31,485,000. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMCR. Raymond James began coverage on shares of Amcor in a report on Tuesday, April 22nd. They set a "market perform" rating for the company. Truist Financial cut their target price on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $11.31.

Amcor Stock Performance

AMCR stock traded up $0.10 during midday trading on Tuesday, reaching $9.13. 23,487,049 shares of the company's stock traded hands, compared to its average volume of 19,147,547. The stock's 50-day moving average is $9.27 and its 200 day moving average is $9.68. The stock has a market cap of $13.19 billion, a P/E ratio of 16.59, a PEG ratio of 1.96 and a beta of 0.78. Amcor plc has a 52-week low of $8.37 and a 52-week high of $11.48. 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 (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, hitting 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 during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the business posted $0.13 EPS. Amcor's revenue was down 2.3% on a year-over-year basis. As a group, analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

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

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.