AXQ Capital LP Invests $1.05 Million in Amcor plc (NYSE:AMCR)

AXQ Capital LP purchased a new position in shares of Amcor plc (NYSE:AMCR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 111,219 shares of the company's stock, valued at approximately $1,047,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC lifted its position in Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company's stock worth $51,484,000 after acquiring an additional 1,096,664 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Amcor by 39.3% during the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company's stock worth $8,162,000 after purchasing an additional 203,166 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Amcor by 24.5% in the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company's stock valued at $7,190,000 after purchasing an additional 124,945 shares during the period. Cerity Partners LLC grew its holdings in Amcor by 78.7% during the 3rd quarter. Cerity Partners LLC now owns 217,498 shares of the company's stock valued at $2,464,000 after purchasing an additional 95,805 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Amcor during the 3rd quarter worth $5,919,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amcor

In other news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the acquisition, the director now directly owns 88,967 shares in the company, 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 SEC, which can be accessed through the SEC website. 0.60% of the stock is currently owned by insiders.

Remove Ads

Amcor Trading Up 1.7 %

NYSE AMCR traded up $0.17 on Wednesday, hitting $9.61. 27,841,763 shares of the stock were exchanged, compared to its average volume of 12,455,295. The company's 50-day moving average price is $9.93 and its two-hundred day moving average price is $10.26. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48. The company has a market capitalization of $13.88 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting analysts' consensus estimates of $0.16. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. Research analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor's dividend payout ratio is currently 92.73%.

Wall Street Analyst Weigh In

AMCR has been the subject of a number of analyst reports. Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Bank of America upgraded Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective on the stock in a report on Wednesday, December 11th. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and increased their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Truist Financial upgraded shares of Amcor from a "hold" rating to a "buy" rating and lifted their price target for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $11.46.

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.