Bayforest Capital Ltd Acquires Shares of 36,571 Amcor PLC (NYSE:AMCR)

Key Points

• Bayforest Capital Ltd acquired 36,571 shares of Amcor PLC in the first quarter, valued at approximately $355,000, marking a new position for the fund.
• Amcor's stock is down 1.9% and opened at $9.35, with a market cap of $13.51 billion and a price-to-earnings ratio of 16.69.
• The company reported earnings of $0.18 per share for its latest quarter, meeting analysts' expectations but showing a revenue decline of 2.3% year-over-year.

Bayforest Capital Ltd acquired a new stake in Amcor PLC (NYSE:AMCR - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 36,571 shares of the company's stock, valued at approximately $355,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rakuten Securities Inc. boosted its position in shares of Amcor by 18,725.0% during the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after purchasing an additional 2,996 shares in the last quarter. HM Payson & Co. purchased a new stake in shares of Amcor in the 1st quarter worth about $30,000. CVA Family Office LLC boosted its position in shares of Amcor by 234.1% in the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock worth $32,000 after buying an additional 2,280 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Amcor in the 1st quarter worth about $36,000. Finally, Quarry LP boosted its position in shares of Amcor by 2,064.5% in the 4th quarter. Quarry LP now owns 3,723 shares of the company's stock worth $35,000 after buying an additional 3,551 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Amcor in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price objective on the stock. UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Raymond James Financial initiated coverage on shares of Amcor in a research note on Tuesday, April 22nd. They issued a "market perform" rating for the company. Wells Fargo & Company upped their price objective on shares of Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, Truist Financial set a $11.00 price objective on shares of Amcor and gave the company a "buy" rating in a research note on Friday, July 11th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Amcor has an average rating of "Moderate Buy" and a consensus price target of $11.51.

Amcor Trading Down 0.6%

AMCR traded down $0.06 on Friday, reaching $9.29. 22,773,302 shares of the company's stock were exchanged, compared to its average volume of 19,455,466. The company's 50 day moving average is $9.35 and its 200-day moving average is $9.54. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.19 and a beta of 0.74. Amcor PLC has a twelve month low of $8.37 and a twelve month high of $11.48. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70.

Amcor (NYSE:AMCR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. Amcor had a net margin of 5.99% and a return on equity of 26.49%. The company's revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. Equities analysts predict that Amcor PLC will post 0.74 earnings per share for the current year.

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.