CIBC Asset Management Inc Decreases Stock Holdings in Amcor plc (NYSE:AMCR)

CIBC Asset Management Inc decreased its holdings in shares of Amcor plc (NYSE:AMCR) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 344,734 shares of the company’s stock after selling 1,912 shares during the period. CIBC Asset Management Inc’s holdings in Amcor were worth $3,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMCR. Larson Financial Group LLC lifted its position in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after buying an additional 2,319 shares in the last quarter. True Wealth Design LLC lifted its holdings in Amcor by 3,794.1% in the 3rd 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. Signaturefd LLC lifted its holdings in Amcor by 296.3% in the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after purchasing an additional 3,242 shares in the last quarter. Covestor Ltd lifted its holdings in Amcor by 441.0% in the 3rd quarter. Covestor Ltd now owns 7,963 shares of the company’s stock valued at $90,000 after purchasing an additional 6,491 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Amcor in the 3rd quarter valued at $97,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 1.8 %

Shares of AMCR opened at $10.38 on Friday. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48. The company has a market capitalization of $15.00 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.94 and a beta of 0.84. The stock has a fifty day simple moving average of $9.72 and a two-hundred day simple moving average of $10.42. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company earned $0.09 EPS. As a group, equities analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Wall Street Analyst Weigh In

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

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.