Edgestream Partners L.P. Buys Shares of 573,132 Amcor plc (NYSE:AMCR)

Edgestream Partners L.P. acquired a new stake in Amcor plc (NYSE:AMCR - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 573,132 shares of the company's stock, valued at approximately $5,393,000.

Several other hedge funds also recently modified their holdings of AMCR. Hartford Funds Management Co LLC bought a new stake in Amcor in the 4th quarter valued at about $607,000. Raymond James Financial Inc. bought a new stake in shares of Amcor during the fourth quarter valued at approximately $23,810,000. Arizona State Retirement System raised its position in shares of Amcor by 1.4% during the fourth quarter. Arizona State Retirement System now owns 419,802 shares of the company's stock worth $3,950,000 after purchasing an additional 5,714 shares during the period. Sound Financial Strategies Group LLC lifted its holdings in shares of Amcor by 50.7% in the 4th quarter. Sound Financial Strategies Group LLC now owns 86,288 shares of the company's stock worth $812,000 after purchasing an additional 29,016 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Amcor in the 4th quarter worth $314,000. Institutional investors own 45.14% of the company's stock.

Wall Street Analysts Forecast Growth

AMCR has been the topic of a number of recent research reports. Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and raised their price objective for the company from $11.00 to $12.00 in a research note on Monday, January 6th. UBS Group raised shares of Amcor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Truist Financial upgraded Amcor from a "hold" rating to a "buy" rating and raised their target price for the company from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Bank of America upgraded Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price target for the company in a report on Wednesday, December 11th. Three equities research 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.46.

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Amcor Stock Performance

Amcor stock traded down $0.07 during mid-day trading on Wednesday, reaching $9.94. 19,198,454 shares of the company's stock were exchanged, compared to its average volume of 21,370,375. The firm has a market capitalization of $14.36 billion, a PE ratio of 18.06, a P/E/G ratio of 1.96 and a beta of 0.80. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The business's fifty day simple moving average is $9.88 and its 200 day simple moving average is $10.37. Amcor plc has a one year low of $8.80 and a one year high of $11.48.

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, hitting analysts' consensus estimates of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the previous year, the firm earned $0.09 EPS. The firm's quarterly revenue was down .3% on a year-over-year basis. On average, sell-side analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be paid a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.13%. Amcor's payout ratio is presently 92.73%.

Insider Activity

In other news, Director Achal Agarwal acquired 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now owns 88,967 shares of the company's stock, valued at approximately $898,566.70. The trade was a 12.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.60% of the company's stock.

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.