Amcor PLC (NYSE:AMCR) Shares Acquired by Machina Capital S.A.S.

Machina Capital S.A.S. grew its holdings in Amcor PLC (NYSE:AMCR) by 63.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 20,359 shares of the company’s stock after acquiring an additional 7,875 shares during the quarter. Machina Capital S.A.S.’s holdings in Amcor were worth $197,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Financial & Tax Architects LLC boosted its holdings in Amcor by 12.4% in the first quarter. Financial & Tax Architects LLC now owns 63,610 shares of the company’s stock valued at $617,000 after purchasing an additional 7,031 shares in the last quarter. AE Wealth Management LLC lifted its position in shares of Amcor by 8.3% during the 1st quarter. AE Wealth Management LLC now owns 229,291 shares of the company’s stock worth $2,224,000 after buying an additional 17,479 shares during the last quarter. Convergence Investment Partners LLC boosted its holdings in shares of Amcor by 41.7% in the 1st quarter. Convergence Investment Partners LLC now owns 132,297 shares of the company’s stock valued at $1,283,000 after buying an additional 38,928 shares in the last quarter. KLP Kapitalforvaltning AS grew its position in shares of Amcor by 1.8% in the 1st quarter. KLP Kapitalforvaltning AS now owns 530,392 shares of the company’s stock valued at $5,145,000 after buying an additional 9,400 shares during the last quarter. Finally, Hartford Funds Management Co LLC grew its position in shares of Amcor by 2.9% in the 1st quarter. Hartford Funds Management Co LLC now owns 66,387 shares of the company’s stock valued at $644,000 after buying an additional 1,867 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMCR. Jefferies Financial Group assumed coverage on shares of Amcor in a research report on Wednesday, July 2nd. They issued a “buy” rating and a $12.00 price target for the company. Raymond James Financial assumed coverage on Amcor in a research report on Tuesday, April 22nd. They set a “market perform” rating on the stock. UBS Group raised Amcor from a “neutral” rating to a “buy” rating in a research report on Thursday, June 26th. Truist Financial set a $11.00 price target on Amcor and gave the stock a “buy” rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company lifted their price target on Amcor from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.51.

Amcor Stock Performance

NYSE AMCR opened at $9.75 on Friday. The firm has a market cap of $14.08 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.25 and a beta of 0.73. Amcor PLC has a 52-week low of $8.37 and a 52-week high of $11.48. The business’s 50-day moving average price is $9.32 and its 200 day moving average price is $9.54. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 2.24.

Amcor (NYSE:AMCR) last announced its 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 26.49% and a net margin of 5.99%. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period last year, the business posted $0.13 EPS. The company’s revenue was down 2.3% on a year-over-year basis. On average, equities research analysts expect that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were given a dividend of $0.1275 per share. The ex-dividend date was Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.23%. Amcor’s payout ratio is currently 91.07%.

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.