Amcor plc (NYSE:AMCR) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC grew its holdings in shares of Amcor plc (NYSE:AMCR) by 292.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,439 shares of the company’s stock after purchasing an additional 60,691 shares during the period. Tidal Investments LLC’s holdings in Amcor were worth $923,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Larson Financial Group LLC raised its position in Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after acquiring an additional 2,319 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of Amcor during the 3rd quarter worth approximately $35,000. ORG Wealth Partners LLC acquired a new position in shares of Amcor during the 3rd quarter worth approximately $35,000. True Wealth Design LLC lifted its stake in Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Amcor by 38.7% during the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after buying an additional 1,299 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Price Performance

Shares of Amcor stock opened at $9.40 on Friday. The stock has a market capitalization of $13.59 billion, a P/E ratio of 17.74, a PEG ratio of 1.80 and a beta of 0.82. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The business’s fifty day moving average price is $10.44 and its 200 day moving average price is $10.50. Amcor plc has a twelve month low of $8.78 and a twelve month high of $11.48.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 EPS. As a group, research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were given a $0.1275 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.51 annualized dividend and a dividend yield of 5.43%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is presently 96.23%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company upped their target price on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a report on Wednesday, December 11th. Finally, Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.20.

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.