Cibc World Markets Corp Grows Stock Holdings in Amcor plc (NYSE:AMCR)

Cibc World Markets Corp lifted its stake in shares of Amcor plc (NYSE:AMCR) by 299.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 783,187 shares of the company’s stock after acquiring an additional 586,996 shares during the quarter. Cibc World Markets Corp’s holdings in Amcor were worth $7,370,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC grew its stake in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after purchasing an additional 2,319 shares in the last quarter. True Wealth Design LLC grew its position in shares of Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after buying an additional 3,225 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Amcor by 247.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after buying an additional 2,660 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Amcor in the fourth quarter valued at about $44,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Amcor in the fourth quarter worth about $60,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Up 0.7 %

Amcor stock opened at $9.91 on Wednesday. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The business has a fifty day moving average price of $9.92 and a 200-day moving average price of $10.32. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The stock has a market capitalization of $14.32 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the company earned $0.09 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.15%. Amcor’s payout ratio is 92.73%.

Insider Buying and Selling at Amcor

In other news, Director Achal Agarwal purchased 10,000 shares of the company’s stock in a transaction 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 purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on AMCR. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a report on Wednesday, December 11th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $11.46.

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.