Amcor PLC $AMCR Shares Bought by AGF Management Ltd.

AGF Management Ltd. raised its stake in shares of Amcor PLC (NYSE:AMCR) by 163.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 692,769 shares of the company’s stock after buying an additional 429,836 shares during the period. AGF Management Ltd.’s holdings in Amcor were worth $6,367,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AMCR. NewSquare Capital LLC raised its position in 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 acquiring an additional 2,222 shares in the last quarter. AdvisorNet Financial Inc grew its stake in shares of Amcor by 839.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock worth $28,000 after purchasing an additional 2,704 shares during the period. Brentview Investment Management LLC purchased a new position in shares of Amcor during the 1st quarter valued at approximately $31,000. Adirondack Trust Co. acquired a new position in shares of Amcor in the 2nd quarter valued at $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in shares of Amcor in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 1.6%

Shares of Amcor stock opened at $8.36 on Monday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. The stock’s 50 day simple moving average is $8.16 and its 200-day simple moving average is $8.87. The stock has a market cap of $19.26 billion, a P/E ratio of 23.21, a P/E/G ratio of 1.14 and a beta of 0.72. Amcor PLC has a 1-year low of $7.66 and a 1-year high of $10.70.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The firm’s revenue was up 71.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 earnings per share. Analysts predict that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Friday, November 28th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, November 28th. This is a positive change from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is presently 152.94%.

Analysts Set New Price Targets

AMCR has been the subject of a number of recent 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 report on Friday, October 10th. JPMorgan Chase & Co. started coverage on Amcor in a research note on Friday, September 19th. They issued an “overweight” rating and a $10.00 price target for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amcor in a report on Wednesday, October 8th. The Goldman Sachs Group started coverage on Amcor in a report on Wednesday, September 10th. They issued a “buy” rating on the stock. Finally, Robert W. Baird cut their price objective on Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $10.84.

Insider Activity

In other news, Director Stephen E. Sterrett acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $8.55 per share, for a total transaction of $85,500.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at approximately $85,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

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.