Capital Fund Management S.A. Buys New Shares in Amcor plc (NYSE:AMCR)

Capital Fund Management S.A. purchased a new position in Amcor plc (NYSE:AMCR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,342 shares of the company’s stock, valued at approximately $248,000.

Several other institutional investors have also added to or reduced their stakes in AMCR. Raymond James Financial Inc. bought a new stake in shares of Amcor in the 4th quarter valued at about $23,810,000. APG Asset Management N.V. lifted its position in Amcor by 4.2% in the fourth quarter. APG Asset Management N.V. now owns 1,119,870 shares of the company’s stock valued at $10,177,000 after purchasing an additional 44,900 shares during the last quarter. Applied Finance Capital Management LLC boosted its stake in shares of Amcor by 108.5% during the fourth quarter. Applied Finance Capital Management LLC now owns 35,591 shares of the company’s stock valued at $335,000 after purchasing an additional 18,520 shares during the period. Bank of Nova Scotia grew its holdings in shares of Amcor by 117.0% in the fourth quarter. Bank of Nova Scotia now owns 466,052 shares of the company’s stock worth $4,386,000 after purchasing an additional 251,235 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Amcor by 16.0% in the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock worth $286,300,000 after buying an additional 4,199,209 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Price Performance

AMCR stock opened at $9.27 on Thursday. The firm has a 50-day moving average of $9.75 and a 200 day moving average of $10.06. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The company has a market cap of $13.40 billion, a P/E ratio of 16.85, a PEG ratio of 1.96 and a beta of 0.78. Amcor plc has a 1 year low of $8.37 and a 1 year high of $11.48.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. On average, sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.50%. The ex-dividend date was Wednesday, February 26th. Amcor’s payout ratio is currently 92.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Truist Financial raised Amcor from a “hold” rating to a “buy” rating and upped their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Insider Transactions at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the director now owns 88,967 shares of the company’s stock, valued at $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.

Amcor 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.