72,113 Shares in Amcor PLC $AMCR Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI bought a new position in Amcor PLC (NYSE:AMCR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 72,113 shares of the company’s stock, valued at approximately $3,126,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Capital International Investors bought a new position in shares of Amcor during the fourth quarter worth about $354,227,000. Norges Bank bought a new stake in Amcor in the 4th quarter valued at about $308,724,000. AQR Capital Management LLC lifted its position in Amcor by 398.6% in the 2nd quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock valued at $147,184,000 after purchasing an additional 12,803,785 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Amcor during the 4th quarter valued at about $103,713,000. Finally, Invesco Ltd. boosted its stake in Amcor by 29.9% during the 3rd quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock valued at $385,373,000 after purchasing an additional 10,846,351 shares during the period. 45.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Amcor from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday. Jefferies Financial Group set a $44.92 price objective on Amcor and gave the stock a “hold” rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $47.00 price objective (up from $44.00) on shares of Amcor in a report on Monday. BMO Capital Markets started coverage on Amcor in a research report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 target price on the stock. Finally, Truist Financial reaffirmed a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and an average price target of $49.49.

Amcor Stock Down 1.1%

AMCR opened at $45.51 on Tuesday. Amcor PLC has a one year low of $36.25 and a one year high of $50.94. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.42 and a current ratio of 0.74. The stock’s fifty day moving average is $43.73 and its 200-day moving average is $42.61. The company has a market capitalization of $21.04 billion, a PE ratio of 19.28, a P/E/G ratio of 1.09 and a beta of 0.62.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. Amcor had a return on equity of 15.92% and a net margin of 4.71%.The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the prior year, the firm posted $0.20 earnings per share. The company’s revenue was up 25.9% on a year-over-year basis. On average, equities analysts predict that Amcor PLC will post 4.24 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Friday, September 4th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Friday, September 4th. Amcor’s dividend payout ratio is presently 110.17%.

Amcor Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.