Bayforest Capital Ltd Acquires Shares of 36,571 Amcor PLC $AMCR

Key Points

• Bayforest Capital Ltd has acquired 36,571 shares of Amcor PLC, valued at approximately $355,000, marking a new position in the first quarter of the year.
• Multiple analysts have issued positive reports on Amcor, with Goldman Sachs initiating coverage with a "buy" rating, while Truist Financial set a price target of $11.00 for the stock.
• Amcor recently announced a quarterly dividend of $0.1275 per share, resulting in a dividend yield of 6.2%, despite a high payout ratio of 141.67%.

Bayforest Capital Ltd acquired a new position in Amcor PLC (NYSE:AMCR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 36,571 shares of the company's stock, valued at approximately $355,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. increased its position in shares of Amcor by 18,725.0% during the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock valued at $29,000 after buying an additional 2,996 shares during the period. HM Payson & Co. purchased a new position in shares of Amcor during the first quarter valued at about $30,000. Brentview Investment Management LLC purchased a new position in shares of Amcor during the first quarter valued at about $31,000. CVA Family Office LLC increased its position in shares of Amcor by 234.1% during the first quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after buying an additional 2,280 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Amcor during the first quarter valued at about $36,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AMCR shares. The Goldman Sachs Group started coverage on shares of Amcor in a research report on Wednesday. They set a "buy" rating on the stock. Truist Financial set a $11.00 price target on shares of Amcor and gave the company a "buy" rating in a research report on Friday, July 11th. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Jefferies Financial Group assumed coverage on shares of Amcor in a research report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $11.42.

Insider Activity

In other news, Director Stephen E. Sterrett bought 10,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the completion of the purchase, the director owned 10,000 shares in the company, valued at approximately $85,500. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Amcor Price Performance

AMCR opened at $8.25 on Thursday. The stock has a 50-day moving average price of $9.16 and a 200-day moving average price of $9.32. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. The firm has a market cap of $11.92 billion, a PE ratio of 22.90, a P/E/G ratio of 1.06 and a beta of 0.72. Amcor PLC has a 1 year low of $8.16 and a 1 year high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.Amcor's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Sell-side analysts predict that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, September 5th will be paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Friday, September 5th. Amcor's dividend payout ratio is currently 141.67%.

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.

Want to see what other hedge funds are holding AMCR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amcor PLC (NYSE:AMCR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.