Legato Capital Management LLC Acquires Shares of 43,626 Amcor PLC $AMCR

Legato Capital Management LLC acquired a new stake in Amcor PLC (NYSE:AMCR) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 43,626 shares of the company’s stock, valued at approximately $364,000.

A number of other hedge funds also recently bought and sold shares of AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Amcor by 8.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock valued at $2,596,000 after acquiring an additional 20,757 shares during the last quarter. Focus Partners Wealth raised its holdings in Amcor by 11.3% in the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock valued at $418,000 after acquiring an additional 4,396 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Amcor in the 2nd quarter valued at about $138,000. Arrowstreet Capital Limited Partnership acquired a new stake in Amcor in the 2nd quarter valued at about $6,426,000. Finally, CW Advisors LLC acquired a new stake in Amcor in the 2nd quarter valued at about $228,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

Amcor stock opened at $39.65 on Thursday. The firm has a 50 day simple moving average of $39.50 and a 200-day simple moving average of $42.31. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The stock has a market cap of $18.33 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 1.18 and a beta of 0.63.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the company posted $0.90 EPS. The business’s revenue for the quarter was up 77.4% on a year-over-year basis. On average, analysts expect that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 6.6%. Amcor’s dividend payout ratio is 181.82%.

Analysts Set New Price Targets

AMCR has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Morgan Stanley downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective for the company. in a report on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective for the company. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Wells Fargo & Company set a $41.00 price target on shares of Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

Amcor Profile

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.