Point72 Asset Management L.P. Takes $31.49 Million Position in Amcor plc (NYSE:AMCR)

Point72 Asset Management L.P. bought a new position in Amcor plc (NYSE:AMCR - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 3,345,944 shares of the company's stock, valued at approximately $31,485,000. Point72 Asset Management L.P. owned 0.23% of Amcor as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AMCR. Marshall Wace LLP grew its holdings in Amcor by 303.9% during the fourth quarter. Marshall Wace LLP now owns 8,699,610 shares of the company's stock valued at $81,863,000 after purchasing an additional 6,545,689 shares during the period. Wellington Management Group LLP boosted its stake in shares of Amcor by 25.1% during the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock worth $263,215,000 after purchasing an additional 5,614,233 shares during the period. First Trust Advisors LP grew its stake in Amcor by 474.7% in the 4th quarter. First Trust Advisors LP now owns 5,402,490 shares of the company's stock worth $50,837,000 after acquiring an additional 4,462,367 shares in the last quarter. Invesco Ltd. grew 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 purchasing an additional 4,199,209 shares during the last quarter. Finally, Eminence Capital LP purchased a new stake in Amcor during the fourth quarter valued at approximately $27,065,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Achal Agarwal purchased 10,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the acquisition, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMCR shares. Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Raymond James assumed coverage on shares of Amcor in a research note on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Finally, Truist Financial lowered their price target 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. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $11.31.

Amcor Stock Performance

AMCR traded down $0.13 during trading hours on Tuesday, hitting $9.31. The company's stock had a trading volume of 27,111,382 shares, compared to its average volume of 18,542,304. The firm has a market capitalization of $13.46 billion, a PE ratio of 16.93, a PEG ratio of 1.96 and a beta of 0.78. The company has a 50-day simple moving average of $9.39 and a 200 day simple moving average of $9.76. Amcor plc has a fifty-two week low of $8.37 and a fifty-two 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 issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the prior year, the firm earned $0.13 EPS. The firm's quarterly revenue was down 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.48%. The ex-dividend date is Thursday, May 22nd. Amcor's payout ratio is presently 91.07%.

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.