XY Capital Ltd Takes $4.53 Million Position in Amcor PLC $AMCR

XY Capital Ltd purchased a new position in Amcor PLC (NYSE:AMCR) during the 1st quarter, HoldingsChannel reports. The fund purchased 114,024 shares of the company’s stock, valued at approximately $4,532,000. Amcor makes up approximately 4.5% of XY Capital Ltd’s investment portfolio, making the stock its 5th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Amcor by 8.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock valued at $2,596,000 after acquiring an additional 20,757 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of Amcor by 11.3% in the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock valued at $418,000 after purchasing an additional 4,396 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Amcor in the second quarter valued at approximately $138,000. Arrowstreet Capital Limited Partnership purchased a new position in Amcor during the second quarter worth approximately $6,426,000. Finally, CW Advisors LLC purchased a new position in Amcor during the second quarter worth approximately $228,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Trading Up 0.6%

AMCR opened at $43.48 on Wednesday. The stock has a market capitalization of $20.10 billion, a PE ratio of 30.41, a P/E/G ratio of 1.36 and a beta of 0.62. Amcor PLC has a one year low of $36.25 and a one year high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The business’s 50 day moving average price is $40.79 and its 200 day moving average price is $42.20.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter last year, the firm earned $0.90 earnings per share. The firm’s quarterly revenue was up 77.4% compared to the same quarter last year. As a group, equities research analysts expect that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

Analyst Upgrades and Downgrades

AMCR has been the topic of a number of recent research reports. Truist Financial reissued a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. JPMorgan Chase & Co. reduced their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Wells Fargo & Company set a $43.00 price target on shares of Amcor and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. BMO Capital Markets began coverage on shares of Amcor in a report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price objective for the company. Finally, Citigroup cut their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.08.

Amcor Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.