Boothbay Fund Management LLC Purchases New Position in Amcor plc (NYSE:AMCR)

Boothbay Fund Management LLC bought a new position in Amcor plc (NYSE:AMCR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 216,729 shares of the company's stock, valued at approximately $2,039,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Amcor by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock worth $555,064,000 after purchasing an additional 1,249,868 shares during the period. Barclays PLC grew its holdings in shares of Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company's stock valued at $51,484,000 after acquiring an additional 1,096,664 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Amcor by 39.3% during the 3rd 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. Van ECK Associates Corp acquired a new position in shares of Amcor in the fourth quarter worth $2,605,000. Finally, Tidal Investments LLC raised its holdings in shares of Amcor by 292.5% during the third quarter. Tidal Investments LLC now owns 81,439 shares of the company's stock worth $923,000 after acquiring an additional 60,691 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Insider Transactions at Amcor

In other news, Director Achal Agarwal purchased 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the director now directly 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 link. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on AMCR. Truist Financial dropped their target price on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. 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 report on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Finally, Raymond James started coverage on shares of Amcor in a research note on Tuesday, April 22nd. They set a "market perform" rating on the stock. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $11.31.

Amcor Stock Performance

AMCR traded down $0.11 during trading on Thursday, hitting $9.10. The stock had a trading volume of 59,561,275 shares, compared to its average volume of 17,247,097. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. Amcor plc has a 12 month low of $8.37 and a 12 month high of $11.48. The company has a 50 day simple moving average of $9.61 and a 200-day simple moving average of $9.94. The firm has a market cap of $13.15 billion, a PE ratio of 16.54, 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 Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.51 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS. Analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be paid a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 annualized dividend and a dividend yield of 5.61%. Amcor's payout ratio is 92.73%.

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.