Squarepoint Ops LLC Boosts Stock Holdings in Amcor plc (NYSE:AMCR)

Squarepoint Ops LLC lifted its holdings in shares of Amcor plc (NYSE:AMCR) by 464.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,169 shares of the company’s stock after buying an additional 181,972 shares during the quarter. Squarepoint Ops LLC’s holdings in Amcor were worth $2,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Amcor by 2.1% during the first quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after acquiring an additional 1,170,986 shares in the last quarter. M&G Plc raised its stake in shares of Amcor by 2,741.7% during the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after purchasing an additional 45,504,608 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Amcor by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock valued at $195,946,000 after purchasing an additional 2,086,698 shares during the period. ProShare Advisors LLC lifted its holdings in Amcor by 7.8% during the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock worth $194,783,000 after purchasing an additional 1,443,364 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in Amcor in the 4th quarter worth about $155,438,000. 45.14% of the stock is owned by institutional investors.

Amcor Stock Down 0.7 %

AMCR opened at $11.15 on Friday. The business’s fifty day simple moving average is $10.93 and its 200 day simple moving average is $10.13. Amcor plc has a 52 week low of $8.45 and a 52 week high of $11.48. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. The stock has a market cap of $16.12 billion, a PE ratio of 24.78, a P/E/G ratio of 2.73 and a beta of 0.85.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, August 15th. The company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The firm had revenue of $3.54 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company earned $0.19 EPS. The company’s revenue was down 3.8% on a year-over-year basis. As a group, research analysts expect that Amcor plc will post 0.75 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.48%. The ex-dividend date was Friday, September 6th. Amcor’s dividend payout ratio is presently 111.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird increased their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. JPMorgan Chase & Co. raised their price target on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Stifel Nicolaus began coverage on shares of Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target for the company. Citigroup increased their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company boosted their target price on Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.73.

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.