Amundi Buys 10,868,411 Shares of Amcor PLC $AMCR

Amundi increased its stake in shares of Amcor PLC (NYSE:AMCR) by 389.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,658,331 shares of the company’s stock after acquiring an additional 10,868,411 shares during the quarter. Amundi’s holdings in Amcor were worth $132,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of AMCR. NewSquare Capital LLC boosted its stake in shares of Amcor by 377.9% during the second quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock valued at $26,000 after purchasing an additional 2,222 shares during the period. AdvisorNet Financial Inc raised its holdings in Amcor by 839.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock valued at $28,000 after buying an additional 2,704 shares during the last quarter. Adirondack Trust Co. bought a new stake in Amcor during the 2nd quarter valued at $29,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Amcor during the 2nd quarter valued at $33,000. Finally, LSV Asset Management bought a new stake in Amcor in the 2nd quarter worth $37,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Price Performance

Shares of NYSE AMCR opened at $8.30 on Monday. Amcor PLC has a 1 year low of $7.66 and a 1 year high of $10.47. The stock has a market capitalization of $19.13 billion, a P/E ratio of 24.41, a P/E/G ratio of 0.82 and a beta of 0.68. The company’s 50-day moving average is $8.24 and its 200 day moving average is $8.75. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.04 and a quick ratio of 0.62.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. Amcor had a return on equity of 17.35% and a net margin of 3.34%.The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the previous year, the firm posted $0.16 EPS. The business’s revenue was up 71.3% on a year-over-year basis. On average, sell-side analysts expect that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Friday, November 28th will be given a dividend of $0.13 per share. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Friday, November 28th. Amcor’s dividend payout ratio is presently 152.94%.

Analyst Upgrades and Downgrades

AMCR has been the topic of a number of analyst reports. Stifel Nicolaus raised shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 price objective for the company in a research note on Friday, October 10th. Royal Bank Of Canada began coverage on Amcor in a report on Monday, September 22nd. They set a “sector perform” rating on the stock. JPMorgan Chase & Co. began coverage on Amcor in a research report on Friday, September 19th. They set an “overweight” rating and a $10.00 price target for the company. Robert W. Baird dropped their price objective on Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Finally, Wells Fargo & Company cut their price objective on Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 15th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and an average target price of $10.91.

Amcor 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.