Tidal Investments LLC Purchases 60,691 Shares of Amcor plc (NYSE:AMCR)

Tidal Investments LLC raised its holdings in Amcor plc (NYSE:AMCR - Free Report) by 292.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC acquired a new stake in Amcor in the 2nd quarter valued at $119,000. Verdence Capital Advisors LLC increased its position in shares of Amcor by 4.3% during the 2nd quarter. Verdence Capital Advisors LLC now owns 112,765 shares of the company's stock worth $1,103,000 after purchasing an additional 4,688 shares in the last quarter. AlphaStar Capital Management LLC lifted its holdings in Amcor by 37.9% during the 2nd quarter. AlphaStar Capital Management LLC now owns 35,984 shares of the company's stock valued at $352,000 after purchasing an additional 9,895 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Amcor by 3.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 101,928 shares of the company's stock valued at $997,000 after buying an additional 3,828 shares in the last quarter. Finally, Lester Murray Antman dba SimplyRich grew its stake in Amcor by 10.0% during the second quarter. Lester Murray Antman dba SimplyRich now owns 57,933 shares of the company's stock worth $566,000 after buying an additional 5,266 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Stock Performance

Amcor stock remained flat at $9.40 during trading hours on Friday. 39,566,992 shares of the company's stock were exchanged, compared to its average volume of 9,890,838. The company has a market cap of $13.59 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The business's fifty day moving average price is $10.44 and its 200 day moving average price is $10.51.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share 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 business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the business posted $0.16 earnings per share. Amcor's revenue was down 2.6% compared to the same quarter last year. Analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

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

Analysts Set New Price Targets

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

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.