Amcor plc (NYSE:AMCR) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its position in Amcor plc (NYSE:AMCR - Free Report) by 767.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 345,727 shares of the company's stock after acquiring an additional 305,867 shares during the period. GAMMA Investing LLC's holdings in Amcor were worth $35,642,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock valued at $555,064,000 after purchasing an additional 1,249,868 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Amcor by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock valued at $433,358,000 after purchasing an additional 2,862,471 shares during the period. Geode Capital Management LLC lifted its stake in shares of Amcor by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company's stock valued at $345,952,000 after purchasing an additional 539,756 shares during the period. Invesco Ltd. lifted its stake in shares of Amcor by 16.0% in the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock valued at $286,300,000 after purchasing an additional 4,199,209 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Amcor by 25.1% in the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock valued at $263,215,000 after purchasing an additional 5,614,233 shares during the period. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Trading Up 0.9%

Amcor stock traded up $0.08 during trading on Friday, reaching $9.12. The company had a trading volume of 15,595,052 shares, compared to its average volume of 19,356,171. Amcor plc has a 12-month low of $8.37 and a 12-month high of $11.48. The stock's 50 day moving average price is $9.22 and its two-hundred day moving average price is $9.66. The firm has a market capitalization of $13.18 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 1.96 and a beta of 0.78. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

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. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the previous year, the firm earned $0.13 earnings per share. Amcor's revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $0.1275 per share. The ex-dividend date is Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.59%. Amcor's dividend payout ratio is currently 91.07%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AMCR shares. Truist Financial dropped their target price 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. Raymond James began coverage on shares of Amcor in a report on Tuesday, April 22nd. They set a "market perform" rating for the company. Four 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 company's stock. According to data from MarketBeat, Amcor has an average rating of "Moderate Buy" and an average target price of $11.31.

Amcor 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.