111,219 Shares in Amcor plc (NYSE:AMCR) Bought by AXQ Capital LP

AXQ Capital LP acquired a new stake in shares of Amcor plc (NYSE:AMCR) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 111,219 shares of the company’s stock, valued at approximately $1,047,000.

Several other large investors have also bought and sold shares of the stock. Sei Investments Co. lifted its stake in Amcor by 9.3% during the 4th quarter. Sei Investments Co. now owns 145,325 shares of the company’s stock valued at $1,368,000 after acquiring an additional 12,311 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Amcor during the 4th quarter valued at $8,787,000. Symmetry Partners LLC purchased a new stake in shares of Amcor during the 4th quarter valued at $132,000. Blueshift Asset Management LLC purchased a new stake in shares of Amcor during the 4th quarter valued at $179,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Amcor during the 4th quarter valued at $127,000. 45.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Achal Agarwal bought 10,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMCR. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and raised their target price for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Price Performance

AMCR opened at $9.44 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48. The stock has a market capitalization of $13.64 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. The stock’s 50 day moving average price is $9.93 and its 200-day moving average price is $10.30.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the previous year, the firm earned $0.09 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. On average, equities research analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were paid a $0.1275 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.41%. Amcor’s payout ratio is 92.73%.

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.