Blueshift Asset Management LLC Purchases New Shares in Amcor plc (NYSE:AMCR)

Blueshift Asset Management LLC acquired a new position in Amcor plc (NYSE:AMCR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 19,054 shares of the company’s stock, valued at approximately $179,000.

Several other hedge funds and other institutional investors have also bought and sold shares of AMCR. Thrivent Financial for Lutherans raised its position in shares of Amcor by 1.9% in the third quarter. Thrivent Financial for Lutherans now owns 163,234 shares of the company’s stock valued at $1,850,000 after buying an additional 3,019 shares in the last quarter. Cerity Partners LLC increased its stake in Amcor by 78.7% during the 3rd quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock worth $2,464,000 after acquiring an additional 95,805 shares during the period. Sompo Asset Management Co. Ltd. raised its holdings in Amcor by 30.1% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 609,250 shares of the company’s stock valued at $6,903,000 after acquiring an additional 140,850 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Amcor by 11.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 176,613 shares of the company’s stock worth $2,001,000 after purchasing an additional 18,352 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Insider Buying and Selling at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the transaction, the director now owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This represents a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Bank of America raised 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 shares of 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 report on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Stock Down 2.9 %

Shares of AMCR opened at $9.44 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The stock has a market capitalization of $13.64 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.96 and a beta of 0.80. The stock has a fifty day moving average of $9.93 and a 200-day moving average of $10.29.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period last year, the firm posted $0.09 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

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

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.