Amcor plc (NYSE:AMCR) Shares Purchased by National Bank of Canada FI

by · The Markets Daily

National Bank of Canada FI grew its holdings in shares of Amcor plc (NYSE:AMCR – Free Report) by 85.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 738,733 shares of the company’s stock after purchasing an additional 341,270 shares during the quarter. National Bank of Canada FI’s holdings in Amcor were worth $8,370,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Larson Financial Group LLC boosted its position in Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after acquiring an additional 2,319 shares during the last quarter. Rise Advisors LLC purchased a new position in Amcor in the 3rd quarter worth approximately $35,000. ORG Wealth Partners LLC acquired a new position in shares of Amcor during the 3rd quarter worth approximately $35,000. True Wealth Design LLC grew its position in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Amcor by 296.3% in the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after purchasing an additional 3,242 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of AMCR opened at $10.01 on Thursday. The firm has a 50-day simple moving average of $10.67 and a two-hundred day simple moving average of $10.53. The stock has a market cap of $14.47 billion, a PE ratio of 18.89, a P/E/G ratio of 1.83 and a beta of 0.82. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74.

Amcor (NYSE:AMCR – Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the company earned $0.16 earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.09%. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is 96.23%.

Wall Street Analyst Weigh In

AMCR has been the topic of a number of recent research reports. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Citigroup upped their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research note on Wednesday. Wells Fargo & Company increased their price target on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Robert W. Baird lifted their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.20.

View Our Latest Stock Report on AMCR

About Amcor

(Free Report)

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.

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