147,790 Shares in Amcor plc (NYSE:AMCR) Bought by Crestline Management LP

Crestline Management LP purchased a new stake in shares of Amcor plc (NYSE:AMCR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 147,790 shares of the company's stock, valued at approximately $1,391,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Amcor by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock valued at $555,064,000 after acquiring an additional 1,249,868 shares in the last quarter. Barclays PLC boosted its holdings 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 acquiring an additional 1,096,664 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Amcor by 39.3% in the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company's stock worth $8,162,000 after acquiring an additional 203,166 shares in the last quarter. Van ECK Associates Corp purchased a new stake in Amcor in the fourth quarter worth about $2,605,000. Finally, Tidal Investments LLC grew its position in Amcor by 292.5% during the 3rd quarter. Tidal Investments LLC now owns 81,439 shares of the company's stock valued at $923,000 after purchasing an additional 60,691 shares during the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Raymond James assumed coverage on Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Finally, Truist Financial reduced their price target on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $11.31.

Insider Buying and Selling at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the transaction, the director now directly owns 88,967 shares of the company's stock, valued at approximately $898,566.70. This trade represents a 12.66% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by company insiders.

Amcor Trading Up 2.5%

NYSE AMCR traded up $0.23 on Monday, reaching $9.35. The stock had a trading volume of 36,938,784 shares, compared to its average volume of 17,992,718. Amcor plc has a 12-month low of $8.37 and a 12-month high of $11.48. The stock has a fifty day moving average price of $9.49 and a two-hundred day moving average price of $9.82. The firm has a market capitalization of $13.51 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 1.96 and a beta of 0.78. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.18. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.51 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor's revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. As a group, sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd will be given a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.46%. Amcor's dividend payout ratio (DPR) is 91.07%.

About Amcor

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.