Cibc World Markets Corp Purchases 586,996 Shares of Amcor plc (NYSE:AMCR)

Cibc World Markets Corp increased its position in shares of Amcor plc (NYSE:AMCR) by 299.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 783,187 shares of the company’s stock after purchasing an additional 586,996 shares during the period. Cibc World Markets Corp owned 0.05% of Amcor worth $7,370,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC increased its stake in Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after buying an additional 2,319 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Amcor by 247.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after purchasing an additional 2,660 shares in the last quarter. True Wealth Design LLC grew its position in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Amcor during the 4th quarter valued at approximately $44,000. Finally, SBI Securities Co. Ltd. purchased a new position in Amcor in the 4th quarter worth approximately $60,000. 45.14% of the stock is currently owned by institutional investors.

Amcor Trading Up 0.7 %

Shares of NYSE AMCR opened at $9.91 on Wednesday. Amcor plc has a 1-year low of $8.80 and a 1-year 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 business’s 50 day moving average is $9.92 and its two-hundred day moving average is $10.32. The stock has a market capitalization of $14.32 billion, a P/E ratio of 18.01, a PEG ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. 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 posted $0.09 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, research analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a $0.1275 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.15%. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Insider Buying and Selling

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the acquisition, the director now owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AMCR has been the topic of several recent analyst reports. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research report on Wednesday, December 11th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Truist Financial raised Amcor from a “hold” rating to a “buy” rating and increased their price target for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.46.

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.