Amcor Plc (NYSE:AMCR) Shares Sold by Assenagon Asset Management S.A.

Defense World · Oct 24, 2022 16:41

Assenagon Asset Management S.A. reduced its stake in Amcor plc (NYSE:AMCR – Get Rating) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,094 shares of the company's stock after selling 922 shares during the period. Assenagon Asset Management S.A.'s holdings in Amcor were worth $250,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AMCR. AdvisorNet Financial Inc raised its stake in shares of Amcor by 24,433.3% in the first quarter. AdvisorNet Financial Inc now owns 3,680 shares of the company's stock valued at $42,000 after acquiring an additional 3,665 shares in the last quarter. AE Wealth Management LLC raised its stake in shares of Amcor by 17.9% in the first quarter. AE Wealth Management LLC now owns 109,077 shares of the company's stock valued at $1,236,000 after acquiring an additional 16,529 shares in the last quarter. Veracity Capital LLC increased its holdings in Amcor by 13.1% in the first quarter. Veracity Capital LLC now owns 109,726 shares of the company's stock valued at $1,243,000 after buying an additional 12,685 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Amcor by 4.0% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,681 shares of the company's stock valued at $2,002,000 after buying an additional 6,716 shares during the last quarter. Finally, Apeiron RIA LLC increased its holdings in Amcor by 14.7% in the first quarter. Apeiron RIA LLC now owns 13,825 shares of the company's stock valued at $159,000 after buying an additional 1,773 shares during the last quarter. 47.76% of the stock is currently owned by institutional investors and hedge funds.

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Amcor Stock Performance

Shares of AMCR stock opened at $11.11 on Monday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.67 and a current ratio of 1.15. Amcor plc has a 1 year low of $10.42 and a 1 year high of $13.60. The stock's 50-day moving average is $11.67 and its two-hundred day moving average is $12.20. The firm has a market cap of $16.54 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 2.47 and a beta of 0.78.

Amcor (NYSE:AMCR – Get Rating) last released its quarterly earnings results on Wednesday, August 17th. The company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.24. Amcor had a return on equity of 27.37% and a net margin of 5.53%. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the company posted $0.23 earnings per share. Analysts predict that Amcor plc will post 0.81 earnings per share for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Thursday, September 8th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.48 dividend on an annualized basis and a yield of 4.32%. Amcor's payout ratio is currently 90.57%.

Insider Activity at Amcor

In related news, insider Louis Fred Stephan sold 27,500 shares of the firm's stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $12.46, for a total value of $342,650.00. Following the completion of the sale, the insider now owns 112,464 shares in the company, valued at $1,401,301.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Louis Fred Stephan sold 27,500 shares of Amcor stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $12.46, for a total transaction of $342,650.00. Following the completion of the sale, the insider now directly owns 112,464 shares in the company, valued at approximately $1,401,301.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eric V. Roegner sold 1,035,748 shares of Amcor stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $12.58, for a total transaction of $13,029,709.84. Following the sale, the insider now owns 278,308 shares of the company's stock, valued at $3,501,114.64. The disclosure for this sale can be found here. Insiders sold a total of 2,905,114 shares of company stock worth $35,840,080 over the last 90 days. Company insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMCR. Macquarie lowered Amcor from an "outperform" rating to a "neutral" rating in a report on Thursday, August 18th. Jefferies Financial Group lowered Amcor from a "hold" rating to an "underperform" rating in a report on Thursday, August 18th. Morgan Stanley lowered Amcor from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 4th. TheStreet lowered Amcor from a "b-" rating to a "c+" rating in a report on Monday, October 17th. Finally, Bank of America raised Amcor from an "underperform" rating to a "buy" rating in a report on Thursday, October 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Amcor has an average rating of "Hold" and a consensus price target of $12.15.

About Amcor

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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.