Tidal Investments LLC Has $923,000 Stock Holdings in Amcor plc (NYSE:AMCR)

Tidal Investments LLC increased its position in Amcor plc (NYSE:AMCR - Free Report) by 292.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,439 shares of the company's stock after buying an additional 60,691 shares during the quarter. Tidal Investments LLC's holdings in Amcor were worth $923,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AMCR. Lake Street Advisors Group LLC lifted its position in shares of Amcor by 8.4% during the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company's stock valued at $138,000 after acquiring an additional 946 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Amcor by 9.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company's stock valued at $132,000 after purchasing an additional 1,023 shares during the last quarter. Forum Financial Management LP boosted its position in shares of Amcor by 7.7% in the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company's stock valued at $167,000 after purchasing an additional 1,058 shares during the period. Prime Capital Investment Advisors LLC increased its stake in Amcor by 6.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company's stock worth $215,000 after purchasing an additional 1,085 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its stake in Amcor by 5.3% in the 2nd quarter. Arkadios Wealth Advisors now owns 25,597 shares of the company's stock worth $250,000 after purchasing an additional 1,298 shares in the last quarter. Institutional investors own 45.14% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a report on Tuesday, October 15th. UBS Group raised Amcor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 11th. Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Finally, Bank of America raised shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective on the stock in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Amcor has a consensus rating of "Moderate Buy" and a consensus target price of $11.20.

Amcor Price Performance

AMCR stock remained flat at $9.40 on Friday. 39,566,992 shares of the company were exchanged, compared to its average volume of 9,890,838. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The company has a 50 day simple moving average of $10.44 and a two-hundred day simple moving average of $10.50. The stock has a market capitalization of $13.59 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 1.80 and a beta of 0.82.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the firm posted $0.16 EPS. The business's revenue for the quarter was down 2.6% on a year-over-year basis. As a group, research analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.43%. This is a boost from Amcor's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, November 21st. Amcor's payout ratio is currently 96.23%.

About Amcor

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.