AGF Management Ltd. Sells 30,276 Shares of Amcor plc (NYSE:AMCR)

AGF Management Ltd. lessened its holdings in shares of Amcor plc (NYSE:AMCR) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 248,444 shares of the company’s stock after selling 30,276 shares during the quarter. AGF Management Ltd.’s holdings in Amcor were worth $2,338,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Independent Advisor Alliance raised its position in Amcor by 11.3% during the fourth quarter. Independent Advisor Alliance now owns 67,290 shares of the company’s stock valued at $633,000 after acquiring an additional 6,848 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Amcor by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 190,265 shares of the company’s stock valued at $1,790,000 after acquiring an additional 13,652 shares in the last quarter. Moran Wealth Management LLC bought a new position in shares of Amcor in the fourth quarter valued at approximately $10,056,000. Isthmus Partners LLC raised its position in shares of Amcor by 38.7% in the fourth quarter. Isthmus Partners LLC now owns 2,003,404 shares of the company’s stock valued at $18,852,000 after purchasing an additional 558,870 shares during the period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its position in shares of Amcor by 30.9% in the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 712,750 shares of the company’s stock valued at $6,707,000 after purchasing an additional 168,210 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 1.6 %

AMCR opened at $9.79 on Friday. Amcor plc has a fifty-two week low of $8.80 and a fifty-two week high of $11.48. 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 firm’s fifty day moving average price is $9.90 and its two-hundred day moving average price is $10.35. The company has a market capitalization of $14.14 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last posted its quarterly earnings results 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 net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the company earned $0.09 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. On average, 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, March 18th. Stockholders of record on Wednesday, February 26th will be paid a $0.1275 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.21%. Amcor’s dividend payout ratio is presently 92.73%.

Insider Activity

In other news, Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The shares were bought 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 of the company’s stock, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AMCR has been the topic of a number of recent analyst reports. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and lifted their price target for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Finally, Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Amcor has a consensus rating of “Moderate Buy” and an average price target 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.