Bridgefront Capital LLC Purchases New Position in Amcor plc (NYSE:AMCR)

Bridgefront Capital LLC acquired a new position in shares of Amcor plc (NYSE:AMCR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 65,623 shares of the company's stock, valued at approximately $618,000.

Other hedge funds also recently made changes to their positions in the company. Quarry LP boosted its position in shares of Amcor by 2,064.5% during the 4th quarter. Quarry LP now owns 3,723 shares of the company's stock worth $35,000 after purchasing an additional 3,551 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Amcor by 247.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock worth $35,000 after buying an additional 2,660 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Amcor during the fourth quarter worth about $44,000. Huntington National Bank increased its holdings in Amcor by 52.4% in the fourth quarter. Huntington National Bank now owns 4,426 shares of the company's stock valued at $42,000 after buying an additional 1,522 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Amcor during the 4th quarter valued at approximately $60,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Analyst Upgrades and Downgrades

AMCR has been the topic of a number of research reports. Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Truist Financial dropped their price target on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Raymond James initiated coverage on shares of Amcor in a research report on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Four investment 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.31.

Insider Buying and Selling

In other news, Director Achal Agarwal purchased 10,000 shares of the stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the transaction, the director now owns 88,967 shares in the company, valued at approximately $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. 0.60% of the stock is currently owned by company insiders.

Amcor Trading Down 0.4 %

AMCR traded down $0.04 during trading on Friday, hitting $9.13. The company's stock had a trading volume of 13,384,041 shares, compared to its average volume of 17,867,853. Amcor plc has a twelve month low of $8.37 and a twelve month high of $11.48. The firm's 50 day moving average price is $9.49 and its 200-day moving average price is $9.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The stock has a market cap of $13.20 billion, a PE ratio of 16.60, a PEG ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.51 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.13 earnings per share. On average, analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd will be issued a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.59%. Amcor's payout ratio is 91.07%.

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.