AXQ Capital LP Acquires New Shares in Amcor plc (NYSE:AMCR)

AXQ Capital LP acquired a new stake in shares of Amcor plc (NYSE:AMCR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 111,219 shares of the company’s stock, valued at approximately $1,047,000.

Several other institutional investors also recently modified their holdings of the business. Sei Investments Co. boosted its position in shares of Amcor by 9.3% during the fourth quarter. Sei Investments Co. now owns 145,325 shares of the company’s stock valued at $1,368,000 after buying an additional 12,311 shares during the last quarter. Quantbot Technologies LP purchased a new position in Amcor in the fourth quarter worth about $8,787,000. Symmetry Partners LLC purchased a new position in Amcor in the fourth quarter worth about $132,000. Blueshift Asset Management LLC purchased a new position in Amcor in the fourth quarter worth about $179,000. Finally, Teacher Retirement System of Texas purchased a new position in Amcor in the fourth quarter worth about $127,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Performance

NYSE AMCR opened at $9.44 on Friday. The stock has a market capitalization of $13.64 billion, a PE ratio of 17.15, a P/E/G ratio of 1.96 and a beta of 0.80. The business has a 50 day simple moving average of $9.93 and a two-hundred day simple moving average of $10.30. 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 1-year low of $8.80 and a 1-year high of $11.48.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. On average, research analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date was Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is 92.73%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMCR. 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 research report on Wednesday, December 11th. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research note 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

Insider Transactions at Amcor

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price 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. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.