GAMMA Investing LLC Grows Stock Holdings in Amcor plc (NYSE:AMCR)

GAMMA Investing LLC boosted its position in shares of Amcor plc (NYSE:AMCR) by 18.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,489 shares of the company’s stock after buying an additional 7,230 shares during the quarter. GAMMA Investing LLC’s holdings in Amcor were worth $515,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Riverview Trust Co purchased a new position in shares of Amcor in the first quarter worth about $28,000. Quent Capital LLC lifted its stake in Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after purchasing an additional 1,241 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after purchasing an additional 2,519 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Amcor by 38.7% during the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after purchasing an additional 1,299 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of Amcor in the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

AMCR has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Wells Fargo & Company upped their price objective on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a report on Friday, August 16th. Robert W. Baird lifted their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Stifel Nicolaus began coverage on shares of Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price target for the company. Finally, Citigroup lifted their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.73.

Amcor Price Performance

Shares of AMCR opened at $11.06 on Thursday. The firm has a 50-day simple moving average of $10.97 and a two-hundred day simple moving average of $10.18. The stock has a market cap of $15.98 billion, a PE ratio of 24.57, a P/E/G ratio of 2.73 and a beta of 0.85. Amcor plc has a 1-year low of $8.45 and a 1-year high of $11.48. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the company earned $0.19 earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, analysts forecast that Amcor plc will post 0.75 EPS for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.52%. The ex-dividend date was Friday, September 6th. Amcor’s payout ratio is 111.11%.

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.