Nan Fung Trinity HK Ltd. Buys 549,500 Shares of Amcor PLC (NYSE:AMCR)

Key Points

• Nan Fung Trinity HK Ltd. increased its stake in Amcor PLC by 20.2%, owning over 3.26 million shares, making it Amcor's 4th biggest holding in their portfolio.
• Wall Street analysts have assigned a average rating of "Moderate Buy" for Amcor shares, with a target price of $11.51, indicating positive expectations for the company's growth.
• Amcor recently announced a quarterly dividend of $0.1275, translating to an annual yield of 5.30%, with a high payout ratio of 91.07%.

Nan Fung Trinity HK Ltd. increased its position in Amcor PLC (NYSE:AMCR - Free Report) by 20.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,269,180 shares of the company's stock after purchasing an additional 549,500 shares during the quarter. Amcor makes up about 5.0% of Nan Fung Trinity HK Ltd.'s portfolio, making the stock its 4th biggest position. Nan Fung Trinity HK Ltd. owned approximately 0.23% of Amcor worth $31,711,000 at the end of the most recent reporting period.

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

Amcor Stock Performance

Amcor stock traded down $0.14 during midday trading on Wednesday, hitting $9.52. 32,889,603 shares of the company were exchanged, compared to its average volume of 18,225,700. The firm has a market capitalization of $13.76 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 1.23 and a beta of 0.73. The business has a fifty day simple moving average of $9.34 and a two-hundred day simple moving average of $9.54. 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 PLC has a fifty-two week low of $8.37 and a fifty-two week high of $11.48.

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, meeting the consensus estimate of $0.18. The business 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 26.49% and a net margin of 5.99%. The business's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 earnings per share. On average, sell-side analysts forecast that Amcor PLC will post 0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.