Assenagon Asset Management S.A. Decreases Stake in Amcor PLC (NYSE:AMCR)

Assenagon Asset Management S.A. lowered its position in shares of Amcor PLC (NYSE:AMCR) by 7.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 38,765 shares of the company’s stock after selling 3,311 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Amcor were worth $376,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of AMCR. Jones Financial Companies Lllp raised its position in shares of Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after acquiring an additional 2,660 shares in the last quarter. Quarry LP increased its position in Amcor by 2,064.5% in the fourth quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after buying an additional 3,551 shares during the period. Huntington National Bank increased its holdings in shares of Amcor by 52.4% during the fourth 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 acquired a new position in shares of Amcor during the fourth quarter valued at $44,000. Finally, Menard Financial Group LLC acquired a new position in shares of Amcor during the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

AMCR opened at $9.07 on Friday. Amcor PLC has a 12-month low of $8.37 and a 12-month high of $11.48. The stock has a market cap of $13.10 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 2.51 and a beta of 0.73. The business has a 50 day moving average of $9.24 and a 200-day moving average of $9.58. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 2.24.

Amcor (NYSE:AMCR) last released 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 business had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Amcor had a return on equity of 26.49% and a net margin of 5.99%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.13 EPS. On average, equities research analysts expect that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were issued a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.63%. Amcor’s dividend payout ratio is presently 91.07%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AMCR shares. Raymond James Financial started coverage on Amcor in a research note on Tuesday, April 22nd. They issued a “market perform” rating on the stock. Truist Financial dropped their price target on Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amcor presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.31.

About Amcor

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.