SG Americas Securities LLC Raises Stake in Amcor PLC (NYSE:AMCR)

SG Americas Securities LLC raised its position in Amcor PLC (NYSE:AMCR - Free Report) by 174.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,983 shares of the company's stock after buying an additional 95,314 shares during the quarter. SG Americas Securities LLC's holdings in Amcor were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Fiduciary Financial Group LLC acquired a new position in Amcor in the 1st quarter valued at about $219,000. Yousif Capital Management LLC raised its stake in shares of Amcor by 13.7% during the first quarter. Yousif Capital Management LLC now owns 806,557 shares of the company's stock worth $7,824,000 after purchasing an additional 96,964 shares during the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of Amcor by 3.4% during the first quarter. First Citizens Bank & Trust Co. now owns 641,730 shares of the company's stock worth $6,225,000 after purchasing an additional 21,051 shares during the period. Wedge Capital Management L L P NC grew its position in Amcor by 2.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 640,902 shares of the company's stock valued at $6,217,000 after buying an additional 12,774 shares during the last quarter. Finally, Park Avenue Securities LLC grew its position in Amcor by 15.4% in the 1st quarter. Park Avenue Securities LLC now owns 22,594 shares of the company's stock valued at $219,000 after buying an additional 3,023 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMCR shares. Raymond James Financial initiated coverage on Amcor in a research report on Tuesday, April 22nd. They issued a "market perform" rating for the company. Truist Financial reduced their price objective on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.31.

Amcor Price Performance

Shares of AMCR traded down $0.04 during mid-day trading on Friday, reaching $9.02. 22,869,053 shares of the company's stock were exchanged, compared to its average volume of 19,862,140. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 2.24. Amcor PLC has a 52-week low of $8.37 and a 52-week high of $11.48. The company has a market cap of $13.03 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 2.51 and a beta of 0.73. The company has a 50-day simple moving average of $9.24 and a two-hundred day simple moving average of $9.58.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, hitting analysts' consensus estimates of $0.18. The firm had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.51 billion. Amcor had a return on equity of 26.49% and a net margin of 5.99%. The firm'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 EPS. On average, sell-side analysts predict that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.66%. The ex-dividend date was Thursday, May 22nd. Amcor's payout ratio is 91.07%.

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.