2,876,180 Shares in Amcor plc (NYSE:AMCR) Acquired by Eminence Capital LP

Eminence Capital LP purchased a new stake in shares of Amcor plc (NYSE:AMCR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,876,180 shares of the company’s stock, valued at approximately $27,065,000.

Several other large investors have also recently made changes to their positions in the business. CWA Asset Management Group LLC grew its position in Amcor by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock worth $304,000 after acquiring an additional 1,213 shares during the last quarter. Utah Retirement Systems boosted its stake in shares of Amcor by 1.1% during the fourth quarter. Utah Retirement Systems now owns 120,076 shares of the company’s stock valued at $1,130,000 after purchasing an additional 1,300 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of Amcor by 11.3% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company’s stock valued at $131,000 after purchasing an additional 1,409 shares during the period. New York Life Investment Management LLC grew its holdings in shares of Amcor by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 195,714 shares of the company’s stock worth $1,842,000 after purchasing an additional 1,507 shares during the last quarter. Finally, Huntington National Bank raised its holdings in Amcor by 52.4% during the 4th quarter. Huntington National Bank now owns 4,426 shares of the company’s stock valued at $42,000 after buying an additional 1,522 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Achal Agarwal acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.60% of the stock is currently owned by company insiders.

Amcor Price Performance

Shares of AMCR opened at $9.22 on Wednesday. Amcor plc has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The firm’s 50-day simple moving average is $9.54 and its two-hundred day simple moving average is $9.87. The stock has a market cap of $13.32 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.51 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 EPS. Analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be given a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.53%. The ex-dividend date of this dividend is Thursday, May 22nd. Amcor’s dividend payout ratio is presently 91.07%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Truist Financial reduced their price target on Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James began coverage on Amcor in a research note on Tuesday, April 22nd. They set a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and an average price target of $11.31.

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.