Yousif Capital Management LLC boosted its position in Amcor plc (NYSE:AMCR - Free Report) by 13.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 806,557 shares of the company's stock after buying an additional 96,964 shares during the period. Yousif Capital Management LLC owned approximately 0.06% of Amcor worth $7,824,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Amcor by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock worth $555,064,000 after buying an additional 1,249,868 shares during the period. Van ECK Associates Corp bought a new position in shares of Amcor during the fourth quarter valued at approximately $2,605,000. Empowered Funds LLC boosted its position in Amcor by 25.9% during the 4th quarter. Empowered Funds LLC now owns 167,952 shares of the company's stock valued at $1,580,000 after acquiring an additional 34,573 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Amcor by 11,326.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock worth $69,000 after buying an additional 7,249 shares during the period. Finally, Norges Bank purchased a new position in Amcor during the fourth quarter valued at $6,223,000. Hedge funds and other institutional investors own 45.14% of the company's stock.
Analysts Set New Price Targets
Several research analysts have recently weighed in on AMCR shares. Raymond James initiated coverage on shares of Amcor in a report on Tuesday, April 22nd. They set a "market perform" rating for the company. Truist Financial decreased their price target on shares of Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Amcor presently has an average rating of "Moderate Buy" and an average target price of $11.31.
Get Our Latest Research Report on Amcor
Amcor Stock Up 0.2%
Amcor stock traded up $0.02 during midday trading on Thursday, hitting $9.18. 7,411,126 shares of the company's stock were exchanged, compared to its average volume of 19,459,168. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The company has a market cap of $13.27 billion, a PE ratio of 16.69, a P/E/G ratio of 1.96 and a beta of 0.73. The firm has a 50-day moving average of $9.20 and a two-hundred day moving average of $9.63. Amcor plc has a 12 month low of $8.37 and a 12 month high of $11.48.
Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter last year, the company earned $0.13 earnings per share. The company's quarterly revenue was down 2.3% on a year-over-year basis. As a group, analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.
Amcor Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were paid a dividend of $0.1275 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.56%. Amcor's dividend payout ratio (DPR) is presently 91.07%.
Amcor Profile
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Free Report)
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.
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