XY Capital Ltd Invests $4.53 Million in Amcor PLC $AMCR

Key Points

• XY Capital Ltd opened a new position in Amcor, buying 114,024 shares valued at about $4.53 million. The stake represents roughly 4.5% of its portfolio and is now its fifth-largest holding.
• Amcor reported fiscal Q1 earnings that met expectations at $0.96 per share, while revenue of $5.91 billion came in above estimates. The company also posted a year-over-year revenue increase of 77.4%.
• Amcor pays a quarterly dividend of $0.65, translating to an annualized yield of about 6.0%. Analysts currently have a Moderate Buy consensus on the stock, with an average price target of $48.08.

XY Capital Ltd bought a new stake in shares of Amcor PLC (NYSE:AMCR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 114,024 shares of the company's stock, valued at approximately $4,532,000. Amcor makes up about 4.5% of XY Capital Ltd's investment portfolio, making the stock its 5th biggest position.

Other large investors have also recently made changes to their positions in the company. State Street Corp grew its position in Amcor by 1.7% during the fourth quarter. State Street Corp now owns 141,509,581 shares of the company's stock valued at $1,180,190,000 after buying an additional 2,432,340 shares during the period. M&G PLC raised its position in shares of Amcor by 6.1% in the fourth quarter. M&G PLC now owns 114,989,595 shares of the company's stock worth $919,917,000 after acquiring an additional 6,655,611 shares during the period. Vanguard Group Inc. boosted its stake in shares of Amcor by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company's stock worth $945,222,000 after acquiring an additional 1,845,627 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Amcor by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company's stock worth $701,356,000 after acquiring an additional 2,036,667 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Amcor by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company's stock valued at $533,487,000 after acquiring an additional 262,418 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Up 0.6%

AMCR stock opened at $43.48 on Wednesday. The stock has a market capitalization of $20.10 billion, a P/E ratio of 30.41, a P/E/G ratio of 1.36 and a beta of 0.62. The firm has a 50-day simple moving average of $40.79 and a 200-day simple moving average of $42.20. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting analysts' consensus estimates of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period last year, the company posted $0.90 EPS. Amcor's quarterly revenue was up 77.4% compared to the same quarter last year. Equities analysts forecast that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Thursday, May 28th. Amcor's dividend payout ratio (DPR) is 181.82%.

Analyst Ratings Changes

Several equities analysts recently weighed in on AMCR shares. Bank of America lifted their price target on Amcor from $48.00 to $51.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. BMO Capital Markets started coverage on Amcor in a research report on Thursday, July 16th. They set a "market perform" rating and a $47.00 price target on the stock. Wells Fargo & Company set a $43.00 price objective on Amcor and gave the company an "equal weight" rating in a report on Wednesday, July 15th. Jefferies Financial Group set a $44.92 price objective on Amcor in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research note on Wednesday, April 1st. They set a "buy" rating and a $50.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.08.

About Amcor

Amcor NYSE: AMCR is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company's product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor's packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.

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