Nisa Investment Advisors LLC Acquires 72,733 Shares of Amcor PLC (NYSE:AMCR)

Nisa Investment Advisors LLC increased its holdings in Amcor PLC (NYSE:AMCR - Free Report) by 69.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 177,426 shares of the company's stock after buying an additional 72,733 shares during the period. Nisa Investment Advisors LLC's holdings in Amcor were worth $1,721,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Marshall Wace LLP boosted its stake in Amcor by 303.9% during the 4th quarter. Marshall Wace LLP now owns 8,699,610 shares of the company's stock valued at $81,863,000 after purchasing an additional 6,545,689 shares during the period. Wellington Management Group LLP boosted its stake in Amcor by 25.1% during the 4th 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. First Trust Advisors LP boosted its stake in Amcor by 474.7% during the 4th quarter. First Trust Advisors LP now owns 5,402,490 shares of the company's stock valued at $50,837,000 after purchasing an additional 4,462,367 shares during the period. Invesco Ltd. boosted its stake in Amcor by 16.0% during the 4th 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, Point72 Asset Management L.P. acquired a new position in Amcor during the 4th quarter valued at about $31,485,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMCR. 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 began coverage on shares of Amcor in a research note on Tuesday, April 22nd. They issued a "market perform" rating for the company. Jefferies Financial Group began coverage on shares of Amcor in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price target for the company. Truist Financial set a $11.00 price target on shares of Amcor and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company began coverage on shares of Amcor in a research note on Thursday, June 26th. They issued an "overweight" rating and a $10.00 price target for the company. 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 currently has an average rating of "Moderate Buy" and a consensus price target of $11.37.

Amcor Price Performance

Shares of NYSE AMCR traded down $0.03 during midday trading on Thursday, reaching $9.44. The company's stock had a trading volume of 3,126,242 shares, compared to its average volume of 21,157,984. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 2.24. The company has a 50 day moving average price of $9.27 and a 200 day moving average price of $9.53. Amcor PLC has a one year low of $8.37 and a one year high of $11.48. The company has a market cap of $13.64 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 1.20 and a beta of 0.73.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly 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 5.99% and a return on equity of 26.49%. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the previous year, the business earned $0.13 earnings per share. The firm's revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts expect that Amcor PLC will post 0.74 EPS for the current year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were paid a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.41%. Amcor's dividend payout ratio is presently 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.