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

Blueshift Asset Management LLC purchased a new stake in shares of Amcor plc (NYSE:AMCRFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 21,299 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds have also recently added to or reduced their stakes in the company. NEOS Investment Management LLC lifted its position in Amcor by 31.0% in the 4th quarter. NEOS Investment Management LLC now owns 20,490 shares of the company’s stock worth $198,000 after buying an additional 4,851 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in shares of Amcor during the fourth quarter worth approximately $326,000. KBC Group NV lifted its holdings in shares of Amcor by 22.6% in the 4th quarter. KBC Group NV now owns 831,566 shares of the company’s stock worth $8,017,000 after acquiring an additional 153,561 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its stake in shares of Amcor by 122.9% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 112,780 shares of the company’s stock valued at $1,087,000 after purchasing an additional 62,190 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of Amcor during the 4th quarter valued at $1,282,000. Institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price target on shares of Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st.

Read Our Latest Research Report on Amcor

Amcor Stock Performance

Shares of AMCR stock opened at $10.21 on Thursday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $10.51. The company has a market capitalization of $14.76 billion, a P/E ratio of 22.69, a PEG ratio of 5.56 and a beta of 0.85. The stock has a 50 day moving average price of $9.62 and a two-hundred day moving average price of $9.49.

Amcor (NYSE:AMCRGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter in the prior year, the company posted $0.18 EPS. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. Analysts expect that Amcor plc will post 0.7 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 22nd will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.50 dividend on an annualized basis and a yield of 4.90%. Amcor’s dividend payout ratio is presently 111.11%.

About Amcor

(Free Report)

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.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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