Caption Management LLC Buys New Stake in Amcor plc (NYSE:AMCR)

Caption Management LLC purchased a new position in Amcor plc (NYSE:AMCR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 218,866 shares of the company’s stock, valued at approximately $2,060,000.

A number of other hedge funds also recently made changes to their positions in the company. Marshall Wace LLP raised its position in Amcor by 303.9% during the fourth quarter. Marshall Wace LLP now owns 8,699,610 shares of the company’s stock valued at $81,863,000 after purchasing an additional 6,545,689 shares during the period. Wellington Management Group LLP grew its holdings in shares of Amcor by 25.1% in the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock worth $263,215,000 after purchasing an additional 5,614,233 shares during the last quarter. First Trust Advisors LP increased its position in shares of Amcor by 474.7% during the fourth quarter. First Trust Advisors LP now owns 5,402,490 shares of the company’s stock worth $50,837,000 after acquiring an additional 4,462,367 shares during the period. Invesco Ltd. raised its stake in shares of Amcor by 16.0% during the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock valued at $286,300,000 after acquiring an additional 4,199,209 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Amcor by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock valued at $433,358,000 after purchasing an additional 2,862,471 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the purchase, the director now owns 88,967 shares of the company’s stock, valued at $898,566.70. This represents a 12.66 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Amcor Stock Performance

Shares of NYSE AMCR opened at $9.22 on Wednesday. The stock has a market cap of $13.32 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.96 and a beta of 0.78. Amcor plc has a 12 month low of $8.37 and a 12 month high of $11.48. The company has a 50 day simple moving average of $9.54 and a two-hundred day simple moving average of $9.87. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period last year, the business earned $0.13 earnings per share. Amcor’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd will be issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.53%. The ex-dividend date is Thursday, May 22nd. Amcor’s payout ratio is currently 91.07%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMCR. Truist Financial lowered their price objective on shares of Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Raymond James began coverage on shares of Amcor in a research note on Tuesday, April 22nd. They set a “market perform” rating for the company. Finally, Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amcor currently has an average rating of “Moderate Buy” and an average price target of $11.31.

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.