Blueshift Asset Management LLC Purchases Shares of 19,054 Amcor plc (NYSE:AMCR)

Blueshift Asset Management LLC acquired a new position in Amcor plc (NYSE:AMCR) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 19,054 shares of the company’s stock, valued at approximately $179,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMCR. Larson Financial Group LLC increased its holdings in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after purchasing an additional 2,319 shares in the last quarter. Jones Financial Companies Lllp grew 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 during the period. True Wealth Design LLC grew its position in shares of Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after buying an additional 3,225 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Amcor during the 4th quarter valued at $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Amcor during the 4th quarter valued at $60,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Price Performance

Shares of NYSE:AMCR opened at $9.44 on Friday. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The stock has a market cap of $13.64 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. The stock’s fifty day simple moving average is $9.93 and its two-hundred day simple moving average is $10.29.

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

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s dividend payout ratio is presently 92.73%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMCR. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research note on Wednesday, December 11th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Finally, Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Amcor has an average rating of “Moderate Buy” and an average price target of $11.46.

Insider Activity at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by company insiders.

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.