Marshall Wace LLP Raises Stake in Amcor plc (NYSE:AMCR)

Marshall Wace LLP increased its stake in Amcor plc (NYSE:AMCR) by 303.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,699,610 shares of the company’s stock after buying an additional 6,545,689 shares during the period. Marshall Wace LLP’s holdings in Amcor were worth $81,863,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jump Financial LLC purchased a new position in shares of Amcor during the fourth quarter worth approximately $2,214,000. Aware Super Pty Ltd as trustee of Aware Super bought a new position in Amcor in the fourth quarter worth approximately $2,701,000. Walleye Capital LLC purchased a new position in Amcor during the 4th quarter worth $205,000. CreativeOne Wealth LLC raised its position in Amcor by 15.8% during the 4th quarter. CreativeOne Wealth LLC now owns 138,190 shares of the company’s stock valued at $1,300,000 after purchasing an additional 18,821 shares in the last quarter. Finally, Mariner LLC lifted its holdings in shares of Amcor by 11.3% in the 4th quarter. Mariner LLC now owns 443,804 shares of the company’s stock worth $4,176,000 after buying an additional 45,203 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 1.0 %

NYSE:AMCR opened at $9.27 on Thursday. The stock has a market capitalization of $13.40 billion, a price-to-earnings ratio of 16.85, 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 quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The firm has a 50 day moving average of $9.75 and a 200 day moving average of $10.06.

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

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were given a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s payout ratio is currently 92.73%.

Wall Street Analyst Weigh In

AMCR has been the topic of several research reports. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and raised their price target for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Three 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Insider Buying and Selling

In other news, Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now directly owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. The trade was a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is owned by company insiders.

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.