CI Investments Inc. raised its stake in Amcor plc (NYSE:AMCR – Get Rating) by 108.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,212 shares of the company’s stock after buying an additional 2,196 shares during the period. CI Investments Inc.’s holdings in Amcor were worth $50,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Spire Wealth Management boosted its stake in shares of Amcor by 29.5% in the 3rd quarter. Spire Wealth Management now owns 4,007 shares of the company’s stock valued at $43,000 after purchasing an additional 913 shares in the last quarter. General Partner Inc. purchased a new stake in shares of Amcor in the 4th quarter valued at $48,000. New Hampshire Trust purchased a new stake in shares of Amcor in the 4th quarter valued at $62,000. IFP Advisors Inc boosted its stake in shares of Amcor by 16.0% in the 3rd quarter. IFP Advisors Inc now owns 6,593 shares of the company’s stock valued at $94,000 after purchasing an additional 908 shares in the last quarter. Finally, Concord Wealth Partners purchased a new stake in shares of Amcor in the 4th quarter valued at $104,000. Institutional investors own 46.79% of the company’s stock.
Amcor Trading Down 0.2 %
Shares of AMCR opened at $9.79 on Friday. The stock has a market capitalization of $14.41 billion, a P/E ratio of 14.83, a PEG ratio of 0.33 and a beta of 0.80. The company has a quick ratio of 0.72, a current ratio of 1.27 and a debt-to-equity ratio of 1.58. The firm has a fifty day simple moving average of $10.75 and a two-hundred day simple moving average of $11.41. Amcor plc has a twelve month low of $9.76 and a twelve month high of $13.60.
Amcor Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Wednesday, May 24th will be given a $0.1225 dividend. The ex-dividend date is Tuesday, May 23rd. This represents a $0.49 annualized dividend and a dividend yield of 5.01%. Amcor’s dividend payout ratio is 74.24%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on AMCR shares. JPMorgan Chase & Co. raised shares of Amcor from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $11.60 to $10.80 in a research note on Wednesday, May 3rd. Jefferies Financial Group raised shares of Amcor from an “underperform” rating to a “hold” rating in a research note on Wednesday, May 3rd. Finally, Morgan Stanley cut shares of Amcor from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, February 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.80.
About Amcor
Amcor Plc operates as a holding company, which engages in the consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.
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