Axa S.A. Buys 178,711 Shares of Amcor plc (NYSE:AMCR)

Axa S.A. increased its position in Amcor plc (NYSE:AMCR) by 102.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 353,594 shares of the company’s stock after purchasing an additional 178,711 shares during the quarter. Axa S.A.’s holdings in Amcor were worth $3,327,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. 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. Quarry LP grew its holdings in Amcor by 2,064.5% during the 4th quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after acquiring an additional 3,551 shares in the last quarter. Huntington National Bank increased its position 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 purchasing an additional 1,522 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Amcor in the 4th quarter valued at about $44,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Amcor in the 4th quarter worth approximately $60,000. 45.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Amcor news, Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $10.10 per share, with a total value 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. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by insiders.

Amcor Stock Down 0.6 %

NYSE:AMCR opened at $9.13 on Thursday. 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 plc has a twelve month low of $8.37 and a twelve month high of $11.48. The company has a market cap of $13.19 billion, a PE ratio of 16.59, a P/E/G ratio of 1.96 and a beta of 0.78. The company’s 50 day moving average is $9.52 and its two-hundred day moving average is $9.87.

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

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd will be given a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.59%. Amcor’s dividend 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.