Stevens Capital Management LP Takes Position in Amcor PLC (NYSE:AMCR)

Key Points

• Stevens Capital Management LP has acquired a new stake in Amcor PLC, purchasing 34,110 shares valued at approximately $331,000 during the first quarter.
• Analysts have recently upgraded their ratings for Amcor, with UBS Group moving from "neutral" to "buy," while Wells Fargo raised its price target from $10.00 to $11.00.
• Amcor announced a quarterly dividend of $0.1275 per share, resulting in an annualized yield of 5.23% and reflecting a dividend payout ratio of 91.07%.

Stevens Capital Management LP bought a new position in shares of Amcor PLC (NYSE:AMCR - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 34,110 shares of the company's stock, valued at approximately $331,000.

A number of other institutional investors have also modified their holdings of AMCR. Assetmark Inc. increased its holdings in Amcor by 13.6% in the 1st quarter. Assetmark Inc. now owns 82,859 shares of the company's stock worth $804,000 after acquiring an additional 9,944 shares in the last quarter. Navellier & Associates Inc. acquired a new stake in shares of Amcor during the first quarter worth $656,000. Cetera Investment Advisers lifted its holdings in shares of Amcor by 14.5% during the first quarter. Cetera Investment Advisers now owns 303,458 shares of the company's stock worth $2,944,000 after purchasing an additional 38,353 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Amcor by 19.6% in the first quarter. Avantax Advisory Services Inc. now owns 22,940 shares of the company's stock valued at $223,000 after acquiring an additional 3,766 shares during the period. Finally, Lifeworks Advisors LLC raised its stake in shares of Amcor by 22.0% during the 1st quarter. Lifeworks Advisors LLC now owns 598,482 shares of the company's stock worth $5,805,000 after buying an additional 107,729 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Amcor Price Performance

AMCR stock traded down $0.07 during mid-day trading on Wednesday, hitting $9.60. 4,874,035 shares of the stock were exchanged, compared to its average volume of 28,924,633. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.70 and a quick ratio of 1.16. The business has a fifty day moving average price of $9.33 and a 200 day moving average price of $9.54. Amcor PLC has a 12 month low of $8.37 and a 12 month high of $11.48. The stock has a market capitalization of $13.87 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.23 and a beta of 0.73.

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 analysts' consensus estimates of $0.18. Amcor had a return on equity of 26.49% and a net margin of 5.99%. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the previous year, the company posted $0.13 EPS. Amcor's revenue for the quarter was down 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that Amcor PLC will post 0.74 EPS for the current year.

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.