Dark Forest Capital Management LP Purchases 67,731 Shares of Amcor plc (NYSE:AMCR)

Dark Forest Capital Management LP lifted its position in shares of Amcor plc (NYSE:AMCR) by 110.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,894 shares of the company’s stock after purchasing an additional 67,731 shares during the period. Dark Forest Capital Management LP’s holdings in Amcor were worth $1,213,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AMCR. Jones Financial Companies Lllp lifted its position in shares of Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after buying an additional 2,660 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Amcor during the fourth quarter valued at approximately $44,000. Huntington National Bank lifted its holdings in Amcor by 52.4% during the fourth quarter. Huntington National Bank now owns 4,426 shares of the company’s stock worth $42,000 after acquiring an additional 1,522 shares during the period. SBI Securities Co. Ltd. purchased a new position in Amcor in the fourth quarter worth $60,000. Finally, Steward Partners Investment Advisory LLC grew its stake in Amcor by 11,326.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock valued at $69,000 after purchasing an additional 7,249 shares during the period. 45.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Amcor news, Director Achal Agarwal bought 10,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Amcor Price Performance

Amcor stock opened at $9.51 on Thursday. The firm has a market capitalization of $13.75 billion, a P/E ratio of 17.29, a PEG ratio of 1.96 and a beta of 0.78. Amcor plc has a one year low of $8.37 and a one year high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The business has a fifty day moving average price of $9.69 and a 200-day moving average price of $10.00.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the company earned $0.09 EPS. The firm’s revenue was down .3% compared to the same quarter last year. As a group, equities research analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date was Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMCR. Truist Financial lowered their target price on Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday. Raymond James began coverage on shares of Amcor in a research note on Tuesday. They issued a “market perform” rating on the stock. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.31.

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.