Quantbot Technologies LP Acquires 1,331,984 Shares of Amcor PLC $AMCR

Quantbot Technologies LP lifted its holdings in shares of Amcor PLC (NYSE:AMCR) by 142.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,265,823 shares of the company’s stock after purchasing an additional 1,331,984 shares during the quarter. Amcor makes up about 0.7% of Quantbot Technologies LP’s holdings, making the stock its 8th biggest position. Quantbot Technologies LP owned approximately 0.16% of Amcor worth $21,978,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AMCR. CX Institutional acquired a new position in Amcor during the first quarter valued at approximately $111,000. SG Americas Securities LLC grew its stake in shares of Amcor by 174.3% in the first quarter. SG Americas Securities LLC now owns 149,983 shares of the company’s stock worth $1,455,000 after acquiring an additional 95,314 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of Amcor in the first quarter worth $121,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Amcor by 16.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,256,497 shares of the company’s stock valued at $12,188,000 after purchasing an additional 175,731 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Amcor by 5.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 82,025 shares of the company’s stock valued at $796,000 after purchasing an additional 4,591 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMCR. Truist Financial set a $11.00 target price on shares of Amcor and gave the company a “buy” rating in a research note on Friday, July 11th. Raymond James Financial began coverage on shares of Amcor in a research report on Tuesday, April 22nd. They set a “market perform” rating for the company. Wells Fargo & Company increased their target price on shares of Amcor from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Jefferies Financial Group began coverage on shares of Amcor in a research report on Wednesday, July 2nd. They set a “buy” rating and a $12.00 price target on the stock. Finally, UBS Group upgraded shares of Amcor from a “neutral” rating to a “buy” rating in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.42.

Amcor Price Performance

Amcor stock opened at $8.73 on Monday. The stock has a market capitalization of $12.62 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 1.14 and a beta of 0.74. Amcor PLC has a 52-week low of $8.37 and a 52-week high of $11.48. The stock’s 50 day moving average price is $9.42 and its two-hundred day moving average price is $9.51. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.37 and a current ratio of 0.67.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Amcor had a net margin of 3.40% and a return on equity of 19.43%. The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same period in the prior year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was up 43.8% compared to the same quarter last year. On average, equities analysts predict that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, September 5th will be given a dividend of $0.1275 per share. The ex-dividend date is Friday, September 5th. This represents a $0.51 annualized dividend and a dividend yield of 5.8%. Amcor’s payout ratio is currently 141.67%.

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.