Jump Financial LLC Purchases Shares of 235,328 Amcor plc (NYSE:AMCR)

Jump Financial LLC acquired a new stake in Amcor plc (NYSE:AMCR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 235,328 shares of the company's stock, valued at approximately $2,214,000.

Several other hedge funds also recently added to or reduced their stakes in AMCR. Barclays PLC raised its position in Amcor by 31.8% in the third quarter. Barclays PLC now owns 4,544,118 shares of the company's stock valued at $51,484,000 after purchasing an additional 1,096,664 shares during the period. Virtu Financial LLC acquired a new stake in shares of Amcor during the third quarter valued at about $372,000. Sanctuary Advisors LLC grew its stake in shares of Amcor by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 53,132 shares of the company's stock valued at $557,000 after acquiring an additional 3,559 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Amcor by 292.5% during the third quarter. Tidal Investments LLC now owns 81,439 shares of the company's stock valued at $923,000 after acquiring an additional 60,691 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Amcor by 39.3% during the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company's stock valued at $8,162,000 after acquiring an additional 203,166 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Price Performance

AMCR stock traded up $0.15 during trading hours on Thursday, hitting $9.67. 12,395,258 shares of the stock traded hands, compared to its average volume of 15,398,224. Amcor plc has a one year low of $8.37 and a one year high of $11.48. The stock has a 50-day simple moving average of $9.69 and a 200 day simple moving average of $10.00. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The company has a market cap of $13.97 billion, a P/E ratio of 17.55, a P/E/G ratio of 1.96 and a beta of 0.78.

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

Amcor Dividend Announcement

The company also recently disclosed 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 5.28%. The ex-dividend date was Wednesday, February 26th. Amcor's dividend payout ratio is currently 92.73%.

Insider Buying and Selling

In related news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the acquisition, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMCR shares. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and raised their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Raymond James assumed coverage on Amcor in a research note on Tuesday. They issued a "market perform" rating for the company. Truist Financial decreased their price target on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Amcor presently has an average rating of "Moderate Buy" and a consensus target price of $11.31.

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.