Townsquare Capital LLC Increases Stake in Amcor PLC (NYSE:AMCR)

Key Points

• Townsquare Capital LLC has significantly increased its holdings in Amcor PLC by 72.5%, owning 105,904 shares worth approximately $1,027,000 as of the latest SEC filing.
• Amcor recently declared a quarterly dividend of $0.1275 per share, providing a yield of 5.8%, with a high payout ratio of 141.67%.
• Despite a year-over-year revenue increase of 43.8%, Amcor reported $0.20 EPS for the last quarter, missing estimates by $0.01, alongside a current stock price of $8.73.

Townsquare Capital LLC raised its holdings in Amcor PLC (NYSE:AMCR - Free Report) by 72.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 105,904 shares of the company's stock after purchasing an additional 44,527 shares during the period. Townsquare Capital LLC's holdings in Amcor were worth $1,027,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Rakuten Securities Inc. increased its position in Amcor by 18,725.0% in the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock valued at $29,000 after acquiring an additional 2,996 shares during the period. HM Payson & Co. bought a new position in shares of Amcor in the first quarter valued at $30,000. Brentview Investment Management LLC bought a new position in shares of Amcor in the first quarter valued at $31,000. CVA Family Office LLC lifted its stake in shares of Amcor by 234.1% in 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 in the last quarter. Finally, Quarry LP boosted its holdings in Amcor by 2,064.5% during the fourth quarter. Quarry LP now owns 3,723 shares of the company's stock worth $35,000 after purchasing an additional 3,551 shares during the last quarter. Institutional investors own 45.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMCR. Wells Fargo & Company boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Truist Financial set a $11.00 price objective on shares of Amcor and gave the stock a "buy" rating in a research report on Friday, July 11th. Robert W. Baird lowered their price objective on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Friday. Finally, Jefferies Financial Group initiated coverage on shares of Amcor in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $11.42.

Amcor Price Performance

Amcor stock traded down $0.03 during midday trading on Friday, reaching $8.73. 65,218,352 shares of the stock were exchanged, compared to its average volume of 24,568,416. The company's fifty day moving average is $9.42 and its 200-day moving average is $9.51. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.16 and a current ratio of 0.67. The firm has a market cap of $12.62 billion, a PE ratio of 24.25, a PEG ratio of 1.12 and a beta of 0.74. Amcor PLC has a 52 week low of $8.37 and a 52 week high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%. The business's revenue was up 43.8% on a year-over-year basis. During the same period last year, the company posted $0.21 EPS. On average, sell-side analysts forecast that Amcor PLC will post 0.74 EPS for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, September 5th will be issued a $0.1275 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.8%. Amcor's dividend payout ratio is presently 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.